GOLD: What could happen near the year 2144?
GOLD: What could happen near the year 2144?
After BTC we saw all the market moving crazily and without any strong reason.
GOLD was one of those financial instruments that also made a strange move.
The whole market is just speculating about the US data, that it wasn't that good, and maybe that created the bullish wave over the past week.
Is this the truth?
Another speculation concerns a possible rate cut by the FED at the June meeting.
Normally, it will happen one day but the problem is why gold rose in this way breaking very important areas in the past?
2078 was an important zone and GOLD only penetrated this zone easily.
It is now close to 20144 which is also a speculative zone that was created on 04-Dec-2023 on speculations about the FOMC rate cut.
The rate cut will happen, but there is no reason to affect gold in this way. Also, there are other better alternatives to invest compared to GOLD in a normal situation.
I'm looking at a possible sell-off near 2145, but it's too risky considering we don't know the truth behind these moves.
You may find further details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
After BTC we saw all the market moving crazily and without any strong reason.
GOLD was one of those financial instruments that also made a strange move.
The whole market is just speculating about the US data, that it wasn't that good, and maybe that created the bullish wave over the past week.
Is this the truth?
Another speculation concerns a possible rate cut by the FED at the June meeting.
Normally, it will happen one day but the problem is why gold rose in this way breaking very important areas in the past?
2078 was an important zone and GOLD only penetrated this zone easily.
It is now close to 20144 which is also a speculative zone that was created on 04-Dec-2023 on speculations about the FOMC rate cut.
The rate cut will happen, but there is no reason to affect gold in this way. Also, there are other better alternatives to invest compared to GOLD in a normal situation.
I'm looking at a possible sell-off near 2145, but it's too risky considering we don't know the truth behind these moves.
You may find further details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Comment:
It was a movement from 2141.77 to 2125 or nearly -0.78% in only some minutes
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First gold reaction