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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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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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
🌹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
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.