Gold going lower ? 12 Jan 2020
Are we seeing a change of momentum in gold? If price fails to break above 1580, we might see gold going lower in the next few weeks. 1500 is a key support to watch out for.
In the weekly analysis, we are able to spot price closing with upper shadow. However, we are still in an uptrend, counter-trend traders should be cautious with their shorts.
In the broader view, macro-economic data is showing an improvement in the labour market strength with unemployment benefits claims decreased 13,000 to a seasonally adjusted 222,000 for the week. Unemployment remains at 3.5%.
Key event to watch : US-Iran conflict. Further conflict might push gold even higher.
Technical : Short
Macro: Short
In the weekly analysis, we are able to spot price closing with upper shadow. However, we are still in an uptrend, counter-trend traders should be cautious with their shorts.
In the broader view, macro-economic data is showing an improvement in the labour market strength with unemployment benefits claims decreased 13,000 to a seasonally adjusted 222,000 for the week. Unemployment remains at 3.5%.
Key event to watch : US-Iran conflict. Further conflict might push gold even higher.
Technical : Short
Macro: Short
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.