By checking the gold chart in the daily time frame, we can see that the price was able to grow to $2195 last week and finally the weekly candle closed at $2179! Today, we saw the price rise to $2189, and after that, gold was accompanied by a price correction and fell to $2176! Pay attention, if the price stabilizes below $2200, we can see more correction of gold! But notice that in the last 12 days we didn't have even one bearish candlestick, and we have to wait for at least 2 powerful bearish candlesticks for further decline!
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share your prediction for the closing price of gold at week’s end in the comment section ! Your insights are valuable to us. Don’t forget to hit like and leave your supportive comments to motivate me to share more analysis with you—I appreciate your engagement and welcome your thoughts!
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As you can see, after 7 daily bullish candles, finally, yesterday, gold could not record a ceiling higher than the previous day, and today the price penetrated below the LOW price of yesterday (i.e. $2175) and is currently trading in the range of $2179. is ! These are the first signs to expect a price drop! As you know, we will have CPI statistics today. If the actual is more than the predicted rate, we will probably see a heavy fall in gold!
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Only 10 minutes left until the announcement of CPI statistics! Gold has dropped more than 100 pips since I posted the analysis, and if it stabilizes below $2177, we can expect the price to drop further to lower levels! The possible targets of this drop are $2164, $2157 and $2144 respectively!
hi i can see from the chart on 1hr that yesturday it was 2185.99,Today it didnt brack that only hitting 2184.75 and its ranging between making new LL AND HL..I think gold will go to 2153 then retrace to 2163 before dropping to 2132.20