What are the opportunities for gold today? after retesting the 1915-1916 resistance, we see the bulls were dominating yesterday as the market price went up.
I myself predict that the bears will attack and lower the price of gold when EMA 34 and EMA 89 intersect.
The possibility for the bulls to push the price to 1935 and test the upper resistance (in fibonacci) is quite difficult.
Let's get to some news of the day:
Precious metals remain anchored at high prices despite the rise of the USD. In contrast, 10-year US Treasury yields fell below a two-week peak in the previous session, providing some support for the precious metal.
The US data on employment and completion growth in most regions of the country is re-signing. Pharmaceuticals, the US Department of Labor yesterday said the number of weekly applications for unemployment benefits decreased by 13,000 to 216,000, down from last week's revised estimate of 228,000 applications. Data show tightening in the US job market ahead of the official scheduled meeting of the US Federal Reserve (Fed). So the consultant looks to Fed officials' statements for more clues about the pace of acceleration.
According to Mr. Jim Wyckoff, senior market analyst at Kitco, he has determined that gold is lacking a new information base and is trading solely based on bearish digital techniques. However, some selling on top of some buying is helping gold stabilize..
I myself predict that the bears will attack and lower the price of gold when EMA 34 and EMA 89 intersect.
The possibility for the bulls to push the price to 1935 and test the upper resistance (in fibonacci) is quite difficult.
Let's get to some news of the day:
Precious metals remain anchored at high prices despite the rise of the USD. In contrast, 10-year US Treasury yields fell below a two-week peak in the previous session, providing some support for the precious metal.
The US data on employment and completion growth in most regions of the country is re-signing. Pharmaceuticals, the US Department of Labor yesterday said the number of weekly applications for unemployment benefits decreased by 13,000 to 216,000, down from last week's revised estimate of 228,000 applications. Data show tightening in the US job market ahead of the official scheduled meeting of the US Federal Reserve (Fed). So the consultant looks to Fed officials' statements for more clues about the pace of acceleration.
According to Mr. Jim Wyckoff, senior market analyst at Kitco, he has determined that gold is lacking a new information base and is trading solely based on bearish digital techniques. However, some selling on top of some buying is helping gold stabilize..
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+20pip now
🟢TP: 1923
🟢TP: 1920
🔴SL: 1932