GOLD will stop falling or not ?
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GOLD
OUTLOOK
Gold prices rose from five-month lows on Monday, after falling in the past five sessions, as investors' focus turned to a meeting of central bankers in Jackson Hole, Wyoming, this week in anticipation of their outlook on the economy and interest rates.
Gold fell to its lowest level since mid-March, recording 1883.70 last week, after optimistic economic data increased bets that US interest rates would continue to rise for a longer period, which reduced demand for non-yielding commodities.
Investors' focus will be on US Federal Reserve Chairman Jerome Powell's speech on Friday at the annual conference of global central bankers in Jackson Hole.
Currently , as long as price trade under strong resistance 1902 area the price will be continue at the bearish attacks and record a new lows and the way to 1810 will be open .
as for renewing the bullish attempts, this requires the price to stable above resistance 1902 area and then the price will build a positive momentum to reach 1938 .
Additionally, the price break strong support zone and also EMA200 which is explain that the price will be continue at the bearish trend .
support line : 1856 , 1810
resistance line : 1902 , 1938
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OUTLOOK
Gold prices rose from five-month lows on Monday, after falling in the past five sessions, as investors' focus turned to a meeting of central bankers in Jackson Hole, Wyoming, this week in anticipation of their outlook on the economy and interest rates.
Gold fell to its lowest level since mid-March, recording 1883.70 last week, after optimistic economic data increased bets that US interest rates would continue to rise for a longer period, which reduced demand for non-yielding commodities.
Investors' focus will be on US Federal Reserve Chairman Jerome Powell's speech on Friday at the annual conference of global central bankers in Jackson Hole.
Currently , as long as price trade under strong resistance 1902 area the price will be continue at the bearish attacks and record a new lows and the way to 1810 will be open .
as for renewing the bullish attempts, this requires the price to stable above resistance 1902 area and then the price will build a positive momentum to reach 1938 .
Additionally, the price break strong support zone and also EMA200 which is explain that the price will be continue at the bearish trend .
support line : 1856 , 1810
resistance line : 1902 , 1938
If this post was useful to you , don't forget to subscribe and like , Thanks ❤️
注释
The price of Gold tried to stable above 1902 area which is important zone for Gold in a mid term and if can stable above 1902 then I expect that the price will reach to 1912 , but under 1902 the price will be under sell pressure Gold is highly dependent on the DXY price. and the DXY try to get out of the sensitive zone and stabilized under 102.57 in this case, . I expect a correction to 1912, maybe even to 1925, but in the medium term - a fall to 1880-1850 due if that failing of DXY was correction .
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