Gold price ATH - continues to increase

✍️ NOVA hello everyone, Let's comment on gold price next week from 8/4 - 12/4/2024

🔥 World situation:
Gold reached a new all-time high, disregarding a strong US March Nonfarm Payrolls report that could delay rate cuts by the Federal Reserve. Despite the increase in US Treasury yields and the slight rise of the Greenback, gold's price remains influenced by factors like the US Dollar, geopolitical risks, and physical demand.

🔥 Identify:
The increase was so strong and stable, Gold price reached ATH 2330 this week. Next week sees economic data assessing core inflation CPI and PPI. Gold price still has the motivation to increase further, the Uptrend still dominates

🔥 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: $2360, $2380, $2400
Support : $2287, $2260, $2210


🔥 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

Comment:

Beware of Gold prices with GAP continuing to climb

Comment:

Gold price suddenly dropped sharply to the 2300 area

Trade active:

SET UP GOLD PRICE:

BUY GOLD zone: $2361 - $2359 SL $2354
TP1: $2370
TP2: $2378
TP3: $2390

SELL GOLD zone: $2398 - $2401 SL $2405
TP1: $2390
TP2: $2380
TP3: $2370

🔥BUY GOLD zone: $2350 - $2352 SL $2345
TP1: $2361
TP2: $2370
TP3: $2378

Comment:

+ 65 pips, for signal update SELL 2398-2401