✍️ NOVA hello everyone, Let's comment on gold price next week from 12/2 - 16/2/2024
🔥 World situation:
Ending the week, Gold price sideways around the price range above $2020 - $2040. Continue to accumulate, waiting for more news on US inflation data
Next week will see a lot of notable news such as: CPI, Empire State Manufacturing Index, Unemployment Claims, PPI,...
🔥 Identify: Technically: in the long-term H4 frame, Gold price continues to be in the two trend lines in the $2000 - $2040 price range, and will break the structure if it passes the two BREAK point areas as shown in the picture.
🔥 Technically: Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2035, $2056 Support : $2020, $2000
🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
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Gold prices are reaching new milestones in the past two years, becoming more and more stable