Gold continues to decline, but the bulls are still holding the 1939 support area. A global triangle is forming, which shows us the pressure from the bears.
The price continues to test 1939, but it cannot overcome the resistance, even when the fundamental data is released.
Today's releases are:
PPI (MoM) (May).
FOMC Economic Projections
FOMC Statement
Fed Interest Rate Decision
FOMC Press Conferenc
The overall numbers may be weak for the gold, as the rate is likely to stay the same, or may increase (the interest rate for that is low).
From the technical analysis point of view, we see a descending triangle, which might lead the price to break the support.
The moving averages act as resistance.
Strong support: 1939.
Strong resistance: 1965, 1984
I expect the gold to continue in the range for some time, but in the mid-term, the price is expected to decline after breaking the support of 1939. Also, the fundamental data can have a drastic influence on the situation, and a break-down of the triangle resistance will send the price to 1984.
Regards to R.Linda!
The price continues to test 1939, but it cannot overcome the resistance, even when the fundamental data is released.
Today's releases are:
PPI (MoM) (May).
FOMC Economic Projections
FOMC Statement
Fed Interest Rate Decision
FOMC Press Conferenc
The overall numbers may be weak for the gold, as the rate is likely to stay the same, or may increase (the interest rate for that is low).
From the technical analysis point of view, we see a descending triangle, which might lead the price to break the support.
The moving averages act as resistance.
Strong support: 1939.
Strong resistance: 1965, 1984
I expect the gold to continue in the range for some time, but in the mid-term, the price is expected to decline after breaking the support of 1939. Also, the fundamental data can have a drastic influence on the situation, and a break-down of the triangle resistance will send the price to 1984.
Regards to R.Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: telegram.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: telegram.me/RLindaSignals
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。