Gold price in early February, sideway, stable accumulation

✍️ NOVA hello everyone, Let's comment on gold price next week from 5/2 - 9/2/2024

🔥 Identify:
After the information that interest rates will continue to remain the same and not decrease in March. Selling pressure has increased, Gold prices have not been able to have strong growth and continue to sideway above the $2000 price range.

Some important news worth noting this week are: Fed Chair Powell Speaks, PMI, Unemployment Claims,..

🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2050, $2060
Support : $2001


🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest

Yorum:

Monday opens trading with PMI and meeting from FeD