Currently set to No Index
Currently set to No Follow
Fri, Feb 03, 2023

Gold going to retest or break the resistance
1 mins well spent

Gold Analysis

1. Gold has broken the top level of the downtrend line after forming the double bottom.

2. Fails to break the recent resistance level and trying to make a correction.

3. Please wait for the retest of the broken level of the downtrend line (or) wait for the resistance breakout for seeing the big move on gold.

Don’t trade all the time, trade forex market only at the confirmed trade setups.

Get more confirmed trade setups at Premium or Supreme signal plan: Join here:

Gold Fundamental View

Gold prices racing higher as correction phase from declines in past 8 months.

And These higher prices may soon decline because Chinese Wholesale prices rose higher and create a risk for Australian exports.

Chinese Wholesale NANCHANG CHINA Sams Club Store of Wal Mart Group Storage

The above is the picture of the Chinese Wholesale NANCHANG CHINA Sam’s Club Store of Wal-Mart Group Storage.

US PPI Final demand data came in positive 4.2% Y/Y in March versus 2.8% previous. The positive data could fear prices higher in markets.

And also, US Treasury yields move higher, and inflation prices shoot up higher. This turns Gold to declines lower.

In the technical view, Gold can make some corrections. However, the fundamental view drives the market more as the 3rd corona wave has started and lockdowns are again announced by the Governments.



Leave a Reply

Your email address will not be published.

Also read

80% Chinese New Year Offer for Forex Signals