Gold prices will slowly fall

Gold will continue to trend lower in the short term unless we see an uptick in conflict, with U.S. economic data currently weak and the Federal Reserve signaling that it is done raising interest rates. Gold prices are hovering near the 200-day moving average, and the 100-day moving average support 1925-1930 is no longer a strong position. Once the gold price falls below 1925, the next indicator will reach 1900.

During the decline of gold today, bulls and major funds continued to increase their positions and showed signs of strengthening, but in the end it still fell.

Looking at the overall market, the current price of gold will slowly fall, but in the long run, the U.S. economy will be weak, and the price of gold will return to 2000 again.

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1932 1927 1925 is the key support level currently facing gold

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Gold expected to rise to 1970

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short 1944 - 1937
then go long

Bình luận:

short 1944 - 1937
then go long