Gold encountered significant resistance at the level of 1985, and it was unable to surpass this resistance on the daily chart last week. It is expected that after breaking the 1985 level, there will be a surge of FOMO (Fear Of Missing Out) buyers. In light of recent changes in monetary policies, there is an expectation of a rate cut in the upcoming Federal Open Market Committee (FOMC) meeting.
My price target for gold remains at 2100, and this perspective remains unchanged. The strategy remains consistent: it is advisable to buy gold during price dips. Not expecting gold to fall below 1920, so risk management should be conducted accordingly. Personally, I am looking for buy opportunities around the 1950 price zone for swing trading.
My price target for gold remains at 2100, and this perspective remains unchanged. The strategy remains consistent: it is advisable to buy gold during price dips. Not expecting gold to fall below 1920, so risk management should be conducted accordingly. Personally, I am looking for buy opportunities around the 1950 price zone for swing trading.