Gold price after 1 week of price increase

Gold inched closer to the $1,900 mark on Friday following a disappointing US June jobs report, which suggested that the Federal Reserve's aggressive stance on monetary policy had softened. As policymakers gathered to evaluate the next interest rate decision in three weeks' time.

If gold fails to maintain a daily close above the $1910-$1900 range this week, its correction phase will be prolonged, potentially pushing the price down towards $1885, $1866, and $1845.

On the other hand, if economic data supports gold and the price surpasses and holds above the $1932 level, there is a strong possibility of a continued recovery, with the price potentially surpassing the $1950 mark.

Nova believes we can ste up at:
SELL GOLD PRICE AT: $1926 -$1928
or BIG SELL GOLD PRICE AT: $1933 - $1935 SL $1945

The bad news is still weighing on the gold price, making it not possible for the gold price to break out strongly

Follow the 34, 89 EMAs and resistance areas to determine the best SELL entry.

Nova hopes this article can help people have the right assessment of the gold price on October 7, 2023

Bình luận:

right trend

Bình luận:

Gold is still sideways in a small price range of $1921 - $1926. Let's wait for the price to enter the beautiful entry areas like the analysis above

Bình luận:

Gold price is still sideways in the price zone $1915 - $1925