Well this is the FB post that i published a while ago
and below is the Current gold chart
So, what do you thing comes next?!
That’s what I think, and to clarify, what i suggest is to buy at the zones that i show not to sell and target those
Well this is the FB post that i published a while ago
So, what do you thing comes next?!
That’s what I think, and to clarify, what i suggest is to buy at the zones that i show not to sell and target those
1 Like
It feels really overcrowded with leveraged longs. I’d say it pulls back starting with a violent move down. FOMC may be the catalyst. Headlines will be Gold Pullsback on Higher for Longer from Fed or something or Hawkish Tone.
The market is priced in for 3 25bps cuts for Sept Oct Dec already. Anything else is bearish on Gold. Overall bull trend will resume though.
Ya the rolling 14 day Up vs Down is def. trending lower just from the price chart
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While 25bp cut seems possible. Aggressive cut no longer possible considering the hot CPI just now.
The uptrend isn’t over yet. Am looking for a pull back. Saw some devergence forming on the 4 hour chart so I think price will keep climbing.
Majority of traders (77%) still have 3 rate cuts Sept Oct Dec priced in. Anything less will cause a pull back in Gold, imo.
2 Likes
Gold Tops $3,750 on Fed Cut Bets
Gold climbed above $3,750 per ounce on Tuesday, supported by expectations of further interest rate cuts from the Federal Reserve this year. After last week’s initial reduction, the Fed signaled that additional easing may follow as the labor market weakens, with markets now pricing in nearly two more 25-basis-point cuts before year-end.
Gold is currently facing resistance around $3,785, with strong support near $3,735.
| R1: 3785 | S1: 3735 |
|---|---|
| R2: 3800 | S2: 3710 |
| R3: 3830 | S3: 3660 |