Hi, everyone, glad to have a chance to share my ideas with you guys here.
Let's see how Gold chart is like and what's favorable trade.
We can see
1. 1680 ~ 2070 box pattern
2. Short-term descending channel
3. Middle line of box pattern is 1875.00
We should check
1. Core PCE Price Index
2. Fed Chair Powell speaks
We can expect 3 types of price moving.
1. By supporting from the bottom of box pattern, it goes upward straight.
2. By the resistance from the top of descending channel, it goes downward and get support from the bottom of box pattern.
3. By the resistance from the top of descending channel, it goes downward straight and breakdown the box pattern.
I would give more posibility for second option.
but, because of Jackson Hole Symposium, it is hard to make decision.
Thanks for reading, and hope this insight is helpful. Let's see how it works.
Let's see how Gold chart is like and what's favorable trade.
We can see
1. 1680 ~ 2070 box pattern
2. Short-term descending channel
3. Middle line of box pattern is 1875.00
We should check
1. Core PCE Price Index
2. Fed Chair Powell speaks
We can expect 3 types of price moving.
1. By supporting from the bottom of box pattern, it goes upward straight.
2. By the resistance from the top of descending channel, it goes downward and get support from the bottom of box pattern.
3. By the resistance from the top of descending channel, it goes downward straight and breakdown the box pattern.
I would give more posibility for second option.
but, because of Jackson Hole Symposium, it is hard to make decision.
Thanks for reading, and hope this insight is helpful. Let's see how it works.