GOLD ANALYSIS November 15: SIDEWAY WAITING for CPI
💯GOLDEN PLAN DAILY November 13
👉 World gold prices increased slightly while investors waited for the US consumer price index (CPI) report scheduled to be released this evening on Tuesday - an important data point that could cause market fluctuations.
👉 According to a Reuters poll, US core CPI in October is expected to increase 0.3% over the previous month and 4.1% over the same period last year. Investors will also keep an eye on US producer price index (PPI) data on Wednesday.
“If data shows higher-than-expected inflation, gold could fall again as that increases the likelihood of a rate hike,” said Bob Haberkorn, senior market strategist at RJO Futures. However, if the data goes sideways, gold will trade at $1,950/oz
👉 TECHNICAL COMMENTARY: Gold on Monday rebounded to the 0.5 fibo zone in the H1 frame and hit the resistance zone, the price is sizing up in that area, the data is making investors hesitant to choose sides while waiting for CPI news to come in. tonight.
📌Trading plan:
🔽 Sell Gold Entry: 1960 - 1963
SL 1965
TP 1955 - 1948 - 1939
🔼 Buy Gold Entry: 1921- 1919
September 1916
TP 1927 - 1933 - 1945
👉 World gold prices increased slightly while investors waited for the US consumer price index (CPI) report scheduled to be released this evening on Tuesday - an important data point that could cause market fluctuations.
👉 According to a Reuters poll, US core CPI in October is expected to increase 0.3% over the previous month and 4.1% over the same period last year. Investors will also keep an eye on US producer price index (PPI) data on Wednesday.
“If data shows higher-than-expected inflation, gold could fall again as that increases the likelihood of a rate hike,” said Bob Haberkorn, senior market strategist at RJO Futures. However, if the data goes sideways, gold will trade at $1,950/oz
👉 TECHNICAL COMMENTARY: Gold on Monday rebounded to the 0.5 fibo zone in the H1 frame and hit the resistance zone, the price is sizing up in that area, the data is making investors hesitant to choose sides while waiting for CPI news to come in. tonight.
📌Trading plan:
🔽 Sell Gold Entry: 1960 - 1963
SL 1965
TP 1955 - 1948 - 1939
🔼 Buy Gold Entry: 1921- 1919
September 1916
TP 1927 - 1933 - 1945