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💵Macroeconomic Outlook
After the Fed decision, sales dominated the markets.
For inflation to fall, commodity prices must fall.
The Fed is aware of this situation.
Commodity prices have a significant impact on inflation.
Currently, the product with the weakest outlook in the commodity market and with sellers is gold.
📈According to Technical Analysis
⏳When we examine the price chart in the monthly term
After the 1680 support level was broken, selling hardened.
When we pull Fibonacci from 4 to 5, 1.13 Fibonacci level is $1630.
When we draw 2 to 5 fibonachis, the 0.5 Fibonacci level is $1620.
Even if the reaction rises from the $1620-1630 levels, the price may fall to the 1500-1450 levels.
The target of the double top at the 2070 level is $1270, but I don't think the price will drop to this point.
💵Macroeconomic Outlook
After the Fed decision, sales dominated the markets.
For inflation to fall, commodity prices must fall.
The Fed is aware of this situation.
Commodity prices have a significant impact on inflation.
Currently, the product with the weakest outlook in the commodity market and with sellers is gold.
📈According to Technical Analysis
⏳When we examine the price chart in the monthly term
After the 1680 support level was broken, selling hardened.
When we pull Fibonacci from 4 to 5, 1.13 Fibonacci level is $1630.
When we draw 2 to 5 fibonachis, the 0.5 Fibonacci level is $1620.
Even if the reaction rises from the $1620-1630 levels, the price may fall to the 1500-1450 levels.
The target of the double top at the 2070 level is $1270, but I don't think the price will drop to this point.