Hello Traders! 👋
What are your thoughts on Gold?
Gold, after breaking its ascending trendline and exiting the wedge pattern, and failing to break and hold above the 4,850 resistance zone, came under selling pressure as expected and continued its decline.
Going forward, we expect the price to experience some short-term consolidation or corrective movement around current levels, followed by a continuation of the bearish trend toward lower support zones.
As long as the price remains below this resistance area, the bearish scenario remains dominant, and our outlook continues to favor further downside.
⚠️ Additionally, we have the FOMC meeting scheduled for tomorrow night, which could trigger increased volatility in the market. Be cautious and make sure to apply proper risk management.
Feel free to like and share your thoughts in the comments! ❤️
What are your thoughts on Gold?
Gold, after breaking its ascending trendline and exiting the wedge pattern, and failing to break and hold above the 4,850 resistance zone, came under selling pressure as expected and continued its decline.
Going forward, we expect the price to experience some short-term consolidation or corrective movement around current levels, followed by a continuation of the bearish trend toward lower support zones.
As long as the price remains below this resistance area, the bearish scenario remains dominant, and our outlook continues to favor further downside.
⚠️ Additionally, we have the FOMC meeting scheduled for tomorrow night, which could trigger increased volatility in the market. Be cautious and make sure to apply proper risk management.
Feel free to like and share your thoughts in the comments! ❤️
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✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.