Gold Technical Analysis
Daily chart resistance: 4080, support: 3885
Four-hour chart resistance: 4060, support: 4020
One-hour chart resistance: 4047, support: 4020
Gold News Analysis: Heightened geopolitical and economic uncertainty, coupled with market expectations of a US interest rate cut, have prompted investors to flock to safe-haven assets. This gold boom is driven by a multi-pronged force. The Federal Reserve's monetary policy shift has been the strongest driver. With the US government shutdown and the release of key economic data stalled, market expectations for a rate cut have intensified. Futures contracts indicate that traders are betting with an over 80% probability that the Fed will announce a 25 basis point rate cut at this month's meeting, followed by another similar cut in December.
Gold Trading Recommendations: Based on the four-hour chart, key support levels remain at 4020 and 4000. Upside pressure is at 4047, with buying opportunities awaiting a pullback to support levels. (Selling is risky, so try a small size.)
Buy: 4020near
Buy: 4000near
Sell: 4047near
Daily chart resistance: 4080, support: 3885
Four-hour chart resistance: 4060, support: 4020
One-hour chart resistance: 4047, support: 4020
Gold News Analysis: Heightened geopolitical and economic uncertainty, coupled with market expectations of a US interest rate cut, have prompted investors to flock to safe-haven assets. This gold boom is driven by a multi-pronged force. The Federal Reserve's monetary policy shift has been the strongest driver. With the US government shutdown and the release of key economic data stalled, market expectations for a rate cut have intensified. Futures contracts indicate that traders are betting with an over 80% probability that the Fed will announce a 25 basis point rate cut at this month's meeting, followed by another similar cut in December.
Gold Trading Recommendations: Based on the four-hour chart, key support levels remain at 4020 and 4000. Upside pressure is at 4047, with buying opportunities awaiting a pullback to support levels. (Selling is risky, so try a small size.)
Buy: 4020near
Buy: 4000near
Sell: 4047near
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💥Telegram Channel Free Updates 👉🏻
💥This a place for learning and communication. 👉🏻
💥Provide trading guidance.👉🏻
Telegram Channel👉🏻t.me/Actuary00group
💥This a place for learning and communication. 👉🏻
💥Provide trading guidance.👉🏻
Telegram Channel👉🏻t.me/Actuary00group
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.