Gold : The Friday Market behaved as per my prediction. We entered into the sell on breaking of 2020 and which went deep down as per analysis. (refer to my previous post)
The 2000 Support level is also broken , however, the 200 SMA (4H) defended the bears attack.
So what to expect? As long as price consolidates above 200 SMA (4H) and reclaims the 21 DMA I will expect recovery in the Gold. If price reclaims the 2030 level I will be semi bullish. To me if 2030 level is claimed, I will see the Gold going towards 2050 and 2080 -2100 levels.
On other hand if price breaks 1990, I can reasonable expect 1950 & 1930 with much faster pace.
With Fed interest rate cycle coming to end and from march we may see interest rates cuts, I expect recovery in Gold. To me 1990 and 2030 levels are crucial. I will base trading decision on to this.
Good Luck and do comment on the idea and odds.
The 2000 Support level is also broken , however, the 200 SMA (4H) defended the bears attack.
So what to expect? As long as price consolidates above 200 SMA (4H) and reclaims the 21 DMA I will expect recovery in the Gold. If price reclaims the 2030 level I will be semi bullish. To me if 2030 level is claimed, I will see the Gold going towards 2050 and 2080 -2100 levels.
On other hand if price breaks 1990, I can reasonable expect 1950 & 1930 with much faster pace.
With Fed interest rate cycle coming to end and from march we may see interest rates cuts, I expect recovery in Gold. To me 1990 and 2030 levels are crucial. I will base trading decision on to this.
Good Luck and do comment on the idea and odds.