Oro / DollaroShort
GOLD/ Awaiting Key Inflation Data Amid Bearish Signals
Gold prices edged lower on Wednesday as caution prevailed ahead of the U.S. consumer price inflation report that could provide more clarity on the Federal Reserve’s interest rate trajectory.
Currently, the price is above the 2666 level, supporting a rise towards the upper channel trend. However, for the price to move higher, a breakout above the channel trend is necessary, confirmed by the close of the 4-hour candle.
The bearish trend remains in place as long as the price trades within the channel and below the 2732 and 2757 zones. A sharp decline is expected today, with the price potentially breaking below the 2666 level and moving towards 2636.
Key Levels: 2666
Currently, the price is above the 2666 level, supporting a rise towards the upper channel trend. However, for the price to move higher, a breakout above the channel trend is necessary, confirmed by the close of the 4-hour candle.
The bearish trend remains in place as long as the price trades within the channel and below the 2732 and 2757 zones. A sharp decline is expected today, with the price potentially breaking below the 2666 level and moving towards 2636.
Key Levels: 2666
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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