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Mon, Mar 04, 2024

Gold is at the Low price level. Going to fall further?
1 mins well spent

Gold has reached the bottom zone of the Descending Triangle in the 4-hour timeframe chart.

Let’s wait for the confirmation of a breakout.

Gold price falls from roller coaster ride

Gold prices flow downwards as November negotiations on fiscal stimulus progress, it pressures on FED to support the economy. Hence central bank meeting on November 5 will see further Dovish policy and additional stimulus package expected.

FOMC says increase holdings and securities and agency mortgage-backed securities at least at current situations. Unconventional tools may deploy in upcoming days depend on economic situations. Still Dovish stance and stimulus package postponement will affect Gold prices to backstop.

gold bar falling from the sky

Gold prices will continue to fall until the Release of the stimulus package and U.S Election result.

Gold is moving in a Descending channel by forming lower highs and lower lows in the daily timeframe chart.

gold Descending channel in the peak price

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2 thoughts on "Gold is at the Low price level. Going to fall further?"

  • November 1, 2020 at 10:19 am

    For now you are unparalleled best

  • November 2, 2020 at 9:01 pm

    Excellent updates


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