gold price action before fomc 26 January 2022
gold price are falling for more than one year along a descending trend line.
price is again test this upper yellow trend line on weekly time frame
if price breakout upside on fomc than it will unleash a big bullish trend with initial target at 1877 than retest of all time high after successful rally above 1900
if price makes a trend reversal on fomc from upper trend line like it is doing since last one year than it will test lower trend line and breakout of lower trend will confirm bear market of gold with initial target at 1680 than main target at 1560
lets see what happens to gold price after fomc this year 2022.
price is again test this upper yellow trend line on weekly time frame
if price breakout upside on fomc than it will unleash a big bullish trend with initial target at 1877 than retest of all time high after successful rally above 1900
if price makes a trend reversal on fomc from upper trend line like it is doing since last one year than it will test lower trend line and breakout of lower trend will confirm bear market of gold with initial target at 1680 than main target at 1560
lets see what happens to gold price after fomc this year 2022.
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little update to old trade idea
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