Gold prices adjusted downwards below 4800, moving sideways.

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GOLDEN INFORMATION:

Gold (XAU/USD) remains depressed below a nearly four-week high, touched earlier this Wednesday, though it lacks follow-through selling and holds above the $4,800 mark heading into the European session. Given that the path to a durable US-Iran agreement remains uncertain on the back of the instability in the Strait of Hormuz, the US Dollar (USD) stages a modest recovery from its lowest level since early March and undermines the commodity. In fact, Iran's ambassador to the UN described the US blockade, which took effect on Monday, as a grave violation of Tehran's sovereignty.

⭐️Personal comments NOVA:

The downward correction in gold below 4800 continues the tug-of-war between buyers and sellers, a long-term accumulation phase.

⭐️SET UP GOLD PRICE

🔥SELL GOLD zone: 4900 - 4903 SL 4910
TP1: $4875
TP2: $4844
TP3: $4810

🔥BUY GOLD zone: 4732- 4735 SL 4725
TP1: $4760
TP2: $4788
TP3: $4833

⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas .

⭐️NOTE:

Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account

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