GOLD PRICE TECHNICAL ANALYSIS
Gold has been stuck around the $1,200-an-ounce level for the last four weeks and since the next Federal Reserve monetary policy meeting is still one week away.
According to analysts, an impending interest rate hike Sept. 26 will keep a lid on any significant gold rally in the near term. Markets are all but guaranteeing an interest-rate hike
if geopolitical uncertainty starts to rise in the near term, investors are probably more likely to invest in the U.S. dollar and Treasuries than gold.
for approval more optimisic viwea we needs to see prices push above $1,229 an ounce to negate the April downtrend.
Following the latest review post: Will the third time happen gold will not hold and collapse or the melody will return?
The trend has been set and is negative – the price of gold is down as long as the break will hold!
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| gold analysis |
Gold price technical analysis
As long as gold xau/usd stay and trade below 1229+_ the trend is bearishif gold cross up above 1228, I’m expecting to meet 1260 areas – there is major supporting price band imprisoned between 1207 and 1223 Strong support: 1224 & 1211 price areas are meaningful numbers and the big trend support stay in 1207 – but it failed to do that so now correction is more than welcome but…… for my opinion its only correction
Gold closing below $1209 will be sent him to lower numbers the first immediate target could be $1180, $1145, $1045 and then $931.
break down again last lows and especially 1043+_ will send gold to 931 $+-you can see clearly the trend has changed to negative by looking at the charts: looking at the indicator below the blue one – cross down the red line!
This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice
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