GOLD Hits $2,300 Support Zone as Fed Officials Maintain Hawkish

26 Haz🟡 Gold pushed lower to around $2,300 on Wednesday as investors weighed comments from Federal Reserve (Fed) officials, who remain hesitant to cut interest rates amid persistently high inflation. This reluctance by the Fed to reduce rates has exerted downward pressure on gold prices.

However, the Commitment of Traders (COT) report reveals strong institutional interest in gold, indicating a substantial long position. Additionally, the price has reached a significant demand area that aligns with the 78.6% Fibonacci retracement level at the $2,300 support zone. This convergence of factors is further supported by a divergence, suggesting a potential bullish reversal.

Given these conditions, we are considering adding another long position in gold from this point, anticipating a rebound from the current support level.

27 Haz

Yorum

✅ Looks Good !

27 Haz

İşlem kapandı: hedefe ulaştı

✅ Close 50% Second Position and Move SL to Breakeven

28 Haz

İşlem aktif

✅ STILL GOOD

1 Tem

İşlem aktif

✅ I'm Moving SL to Breakeven

3 Tem

İşlem kapandı: hedefe ulaştı

✅ I'm Closing 100% Both Positions. Great profit...