Macro Highlights
The U.S. carried out additional strikes against Iran yesterday, keeping geopolitical tensions elevated.
Gold came under pressure and declined ahead of today's CPI release.
Today's U.S. CPI report is the key event that could shape Fed policy expectations and determine gold's next move.
Trading Plan
Main bias: Sell the rallies.
Key resistance levels:
4220, 4250, 4280, 4360
Key support levels:
4140, 4100–4090, 4050–4000
Personal View
Sellers remain in control unless gold can reclaim the 4280–4360 area.
If price breaks below 4140, gold could extend its decline toward 4100–4090 and potentially 4050–4000.
What do you think?
Will today's CPI help gold form a short-term bottom, or will it trigger another leg lower toward 4100–4000?
The U.S. carried out additional strikes against Iran yesterday, keeping geopolitical tensions elevated.
Gold came under pressure and declined ahead of today's CPI release.
Today's U.S. CPI report is the key event that could shape Fed policy expectations and determine gold's next move.
Trading Plan
Main bias: Sell the rallies.
Key resistance levels:
4220, 4250, 4280, 4360
Key support levels:
4140, 4100–4090, 4050–4000
Personal View
Sellers remain in control unless gold can reclaim the 4280–4360 area.
If price breaks below 4140, gold could extend its decline toward 4100–4090 and potentially 4050–4000.
What do you think?
Will today's CPI help gold form a short-term bottom, or will it trigger another leg lower toward 4100–4000?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.