With the recent core CPI data not changing and remaining at 3.4% investors are still concerned with inflation hence they are buying gold to safe guard their buying power. This situation is most concerning to central banks around the world and they are the biggest buyers. I am of the opinion that we are going back to price discovery territory.
Technically the indicators are in alignment with higher price projection. Price retraced to support level 2375.71 setting up for the next leg up however price might just retest 2379.70.
Summary ;
Entry = 2379.70
Target = 2400
Risk : Reward Ratio = 2.78
Follow, Boost my ideas and let's Grow together.
Plan the trade, Trade the plan!!!
Technically the indicators are in alignment with higher price projection. Price retraced to support level 2375.71 setting up for the next leg up however price might just retest 2379.70.
Summary ;
Entry = 2379.70
Target = 2400
Risk : Reward Ratio = 2.78
Follow, Boost my ideas and let's Grow together.
Plan the trade, Trade the plan!!!