◉ Overview
● Gold prices have risen for eight consecutive weeks, driven by safe-haven demand and a weaker US dollar.
● However, with US inflation data scheduled for release, investors are becoming cautious, leading to a decline in gold prices.
● The US inflation data will provide insight into the Federal Reserve's future monetary policy decisions.
◉ Technical Observations
● After hitting an all-time high near $2,956, the prices are now declining.
● In the weekly chart, a Bearish Engulfing candlestick pattern could be observed, indicating negative market sentiments.
● A support level is expected at $2,790, which is nearly 3% below the current market price.
● Gold prices have risen for eight consecutive weeks, driven by safe-haven demand and a weaker US dollar.
● However, with US inflation data scheduled for release, investors are becoming cautious, leading to a decline in gold prices.
● The US inflation data will provide insight into the Federal Reserve's future monetary policy decisions.
◉ Technical Observations
● After hitting an all-time high near $2,956, the prices are now declining.
● In the weekly chart, a Bearish Engulfing candlestick pattern could be observed, indicating negative market sentiments.
● A support level is expected at $2,790, which is nearly 3% below the current market price.
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🎖️ CMT (usa) & CFTe (usa) chartered
🇺🇸 Telegram - USA Stocks Trading Advice
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t.me/Naranj_KSA
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bio.link/NaranjCapital
🎖️ CMT (usa) & CFTe (usa) chartered
🇺🇸 Telegram - USA Stocks Trading Advice
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🇸🇦 Telegram - Saudi Stocks Trading Advice
t.me/Naranj_KSA
🤝 Contact Us
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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.