GOLD - GOLD TICKS UP, U.S. INFLATION DATA IN FOCUS
Global gold prices rose during these moments of trading on Thursday, while traders await the main US inflation data scheduled to be released later today to gauge the future stance of the Federal Reserve's monetary policy.
Generally, the direction is a downtrend
Downtrend Side: The price is consolidating between the resistance levels of 2,625 and 2,605, maintaining a bearish trend. It is likely to break below 2,605 after making a correction toward the 2,625 resistance. A break below 2,605 would likely lead to a further decline, potentially reaching 2,585.
Uptrend Side: Trading above 2625, indicating a potential move to reach 2,650 or its possibility to 2,637 before likely reversing to below.
Tendency Keys: 2605
Generally, the direction is a downtrend
Downtrend Side: The price is consolidating between the resistance levels of 2,625 and 2,605, maintaining a bearish trend. It is likely to break below 2,605 after making a correction toward the 2,625 resistance. A break below 2,605 would likely lead to a further decline, potentially reaching 2,585.
Uptrend Side: Trading above 2625, indicating a potential move to reach 2,650 or its possibility to 2,637 before likely reversing to below.
Tendency Keys: 2605
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~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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