GOLD under 1950 will start to correction !
GOLD
OUTLOOK
Gold prices rose in the European market on Thursday, maintaining their gains for the fourth day in a row, on the verge of touching the highest level in four weeks, thanks to the decline in US Treasury yields, especially the yield on ten-year bonds.
A succession of negative economic data in the United States has led to a reversal in the pricing of the possibilities of raising US interest rates next November, and for further pricing, traders are awaiting today the release of personal consumption expenditures data, the Federal Reserve’s preferred measure of inflation.
Now , The market has pulled back from this level many times before I think the market might see some short-term pullback from the resistance because the market is losing momentum so the level 1948- 1952 This level is difficult to penetrate and I expect the price will start correction and our target will be 1932 and 1924
Additionally , Today US data expectations are positive and will affect the market directly .
support line : 1932 , 1924
resistance line : 1948 , 1952
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Gold prices rose in the European market on Thursday, maintaining their gains for the fourth day in a row, on the verge of touching the highest level in four weeks, thanks to the decline in US Treasury yields, especially the yield on ten-year bonds.
A succession of negative economic data in the United States has led to a reversal in the pricing of the possibilities of raising US interest rates next November, and for further pricing, traders are awaiting today the release of personal consumption expenditures data, the Federal Reserve’s preferred measure of inflation.
Now , The market has pulled back from this level many times before I think the market might see some short-term pullback from the resistance because the market is losing momentum so the level 1948- 1952 This level is difficult to penetrate and I expect the price will start correction and our target will be 1932 and 1924
Additionally , Today US data expectations are positive and will affect the market directly .
support line : 1932 , 1924
resistance line : 1948 , 1952
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
UPDATE
Like we said from the previous idea the price will try to retest and price retested to 1939 and the price will be continue at the correction as long as price trade under 1952
today news will affect the market