Foreseeable price projection for XAU

10 thg 12, 2023

Hey trade buds, looking forward to a macroeconomic situation where FedReserve will taper increasing interest rates, coupled with easing of geopolitical events that cause instability thereby causing gold to become a safe haven asset, hence increasing price to be resolved. Looking at the chart, we see price has attempted to break forcefully, only to come down at four different times on the Daily timeframe. This indicates a strong resistance level psychologically to traders, and we hope all things being equal, [rice consolidates at this level for a while before pushing lower to areas of interest.