✍️ NOVA hello everyone, Let's comment on gold price next week from 5/27 - 5/31/2024
🔥 World situation:
Gold price stabilized on Friday after two consecutive days of losses, increasing by 0.23%. However, it experienced a weekly decline of more than 3%, marking the largest weekly loss since December 2023. The better-than-expected US Durable Goods Orders data had a reduced impact due to a downward revision in the previous month's reading, which encouraged buying of gold. The XAU/USD is currently trading at $2,332 after reaching a daily low of $2,325. Gold traders reacted before the weekend as US business activity improved, reducing the likelihood of a rate cut by the Federal Reserve (Fed). As of now, fed funds rate futures estimate only a 25 basis point interest rate cut in 2024.
🔥 Identify:
Gold price is in a DOWN correction, but sales volume is decreasing. Economics and politics are in a period of hesitation, Gold prices will mainly sideways in the range from $2300 - $2350 next week.
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2363, $2395, $2442
Support : $2306, $2280
🔥 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
- The winner is the one who sticks with the market the longest
🔥 World situation:
Gold price stabilized on Friday after two consecutive days of losses, increasing by 0.23%. However, it experienced a weekly decline of more than 3%, marking the largest weekly loss since December 2023. The better-than-expected US Durable Goods Orders data had a reduced impact due to a downward revision in the previous month's reading, which encouraged buying of gold. The XAU/USD is currently trading at $2,332 after reaching a daily low of $2,325. Gold traders reacted before the weekend as US business activity improved, reducing the likelihood of a rate cut by the Federal Reserve (Fed). As of now, fed funds rate futures estimate only a 25 basis point interest rate cut in 2024.
🔥 Identify:
Gold price is in a DOWN correction, but sales volume is decreasing. Economics and politics are in a period of hesitation, Gold prices will mainly sideways in the range from $2300 - $2350 next week.
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2363, $2395, $2442
Support : $2306, $2280
🔥 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
- The winner is the one who sticks with the market the longest
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/Novascalperchannel
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/Novascalperchannel
