Gold is under pressure and bearish. Price is under the ICHIMOKU CLOUD showing resistance at #1943-1945 Region.
Key Moving average showing Strong resistance at #1942-1947 Block.
Trendlines support the same Resistance levels. I am expecting strong rejection from this level.
DXY is moving in a bullish channel and above 102 mark.
RSI is below 50 at 4H and 1H showing weak buyers strength. Any How Gold is bearish.
On fundamentals end tomorrow is CPI announcement and it will have strong impact on the further direction of gold. FED fellows are convinced to make another interest rate hike in September. This all bearish to me.
I shall be looking for sell near 1935-1942 region today . Targets will be 1921-1912-1900.
Do like the idea? Do comment.
Key Moving average showing Strong resistance at #1942-1947 Block.
Trendlines support the same Resistance levels. I am expecting strong rejection from this level.
DXY is moving in a bullish channel and above 102 mark.
RSI is below 50 at 4H and 1H showing weak buyers strength. Any How Gold is bearish.
On fundamentals end tomorrow is CPI announcement and it will have strong impact on the further direction of gold. FED fellows are convinced to make another interest rate hike in September. This all bearish to me.
I shall be looking for sell near 1935-1942 region today . Targets will be 1921-1912-1900.
Do like the idea? Do comment.