Gold prices drop strongly and lose more than $35 of their value!
Gold prices recorded a strong decline during Monday’s trading, coinciding with the calming of concerns about geopolitical tensions in the Middle East region, and also strengthening market expectations that the US Federal Reserve may not take the step of reducing interest rates this year.
During today's trading, spot gold contracts fell by approximately $35, or by 1.50%, with gold trading near the level of $2,356 per ounce, in light of strengthening market expectations regarding postponing the US interest rate reduction step until next year in light of the continued high US inflation pressures during the last period.
The price fell and reached the targets I mentioned in my previous analysis, The bearish transaction has completely controlled the direction of gold, and gold prices are gradually expanding their decline to below 2344. If gold can maintain its stability below this level by closing the 1H candle, we'll see a long decline until it reaches 2327 levels and below it.
However, reversing and correcting to level 2357, as well as stabilizing above it, activates the bullish transaction.
Pivot level: 2357
Tendency: down trend
Entry Price: 2344
Gold prices recorded a strong decline during Monday’s trading, coinciding with the calming of concerns about geopolitical tensions in the Middle East region, and also strengthening market expectations that the US Federal Reserve may not take the step of reducing interest rates this year.
During today's trading, spot gold contracts fell by approximately $35, or by 1.50%, with gold trading near the level of $2,356 per ounce, in light of strengthening market expectations regarding postponing the US interest rate reduction step until next year in light of the continued high US inflation pressures during the last period.
The price fell and reached the targets I mentioned in my previous analysis, The bearish transaction has completely controlled the direction of gold, and gold prices are gradually expanding their decline to below 2344. If gold can maintain its stability below this level by closing the 1H candle, we'll see a long decline until it reaches 2327 levels and below it.
However, reversing and correcting to level 2357, as well as stabilizing above it, activates the bullish transaction.
Pivot level: 2357
Tendency: down trend
Entry Price: 2344
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support