Gold Futures Rise to Near Record, as Market Prepares for CPI
Gold Futures Rise to Near Record, as Market Prepares for U.S. Inflation Data
Technical Analysis: Gold
Current Outlook: The price advanced as predicted, and to maintain the bullish trend, a break above the all-time high (ATH) of 2,475 is necessary to target 2,484 and 2,493.
Bullish Scenario:
The price needs to break above 2,475 by closing 4h candle to confirm a bullish trend towards 2,484 and 2,493. Surpassing this level could initiate a strong bullish movement.
Bearish Scenario:
Stabilization below 2,466 may trigger a decline to 2,450, indicating a potential for a strong bearish correction.
Key Levels:
- Pivot Line: 2475
- Resistance Levels: 2484, 2493, 2525
- Support Levels: 2466, 2450, 2430
Today's Expected Trading Range: The price is anticipated to fluctuate between 2,484 and 2,450.
Tendency: Bearish Correction down to 2,450
Attention:
-Releasing CPI More than 3.00% or matches at 3.00% means will support bearish trend toward 2450 and 2432
-Less than 3.00% will support bullish to record a new all time-high
Technical Analysis: Gold
Current Outlook: The price advanced as predicted, and to maintain the bullish trend, a break above the all-time high (ATH) of 2,475 is necessary to target 2,484 and 2,493.
Bullish Scenario:
The price needs to break above 2,475 by closing 4h candle to confirm a bullish trend towards 2,484 and 2,493. Surpassing this level could initiate a strong bullish movement.
Bearish Scenario:
Stabilization below 2,466 may trigger a decline to 2,450, indicating a potential for a strong bearish correction.
Key Levels:
- Pivot Line: 2475
- Resistance Levels: 2484, 2493, 2525
- Support Levels: 2466, 2450, 2430
Today's Expected Trading Range: The price is anticipated to fluctuate between 2,484 and 2,450.
Tendency: Bearish Correction down to 2,450
Attention:
-Releasing CPI More than 3.00% or matches at 3.00% means will support bearish trend toward 2450 and 2432
-Less than 3.00% will support bullish to record a new all time-high
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