GOLD 4H / Bearish correction outlook before FED Rate

16 thg 9Gold Technical Analysis - 16 Sep. 2024

Gold Rises on Softer U.S. Dollar, U.S. Rate-Cut Expectations

GOLD recorded a new peak at 2589 and stabilized at a new bullish zone while above 2527 for the long term.

Now the price should break 2578 to be a downtrend toward 2570 and 2553, but stabilizing above 2580 it will be sensitive to touch 2599 before dropping, we expect a bearish trend till the Fed rate Day,


Key Levels:
- Pivot Point: 2580
- Resistance: 2590, 2600, 2625
- Support: 2570, 2554, 2543

Trend:
- Consolidation: 2570 - 2600
- Bullish: Above 2580
- Bearish: Below 2578

17 thg 9

Đóng lệnh: đạt mục tiêu

GOLD
Update

Hit Target +180 pip✅

and still running to get the second target which is 2560 and 2553

movement range will be between 2570 and 2553 till breaking

timeframe 4h, 1h, 15min
current price 2562

18 thg 9

Đóng lệnh: đạt mục tiêu

GOLD
UPDATE

The price reached the ATH 2599 and then dropped perfectly, as we mentioned stability under 2570 will be bearish toward 2553 and 2543

so now toward 2543 and under it by closing 4h candle below it will touch 2528 as well