⭐️GOLDEN INFORMATION: The price of gold, which had been rising since February 28, dropped close to $2,160 per ounce during Asian trading on Friday. Market expectations of a potential interest rate cut by the Federal Reserve in June have been supporting the price of gold. Fed Chair Jerome Powell's comments during his testimony before Congress further reinforced speculation about rate cuts.
⭐️Personal comments NOVA: A week that witnessed record high prices for Gold. A sudden price increase cannot avoid a DOWN correction. NF expects a downward adjustment for Gold
⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️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
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Gold's increasing force is still showing that the price wants to create a new peak, still waiting for a DOWN rhythm from Gold
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Gold price created a new peak today at $2,168, and corrected slightly