Update: Had Gold dropping from 1977 to 1964. Gold ended up closing around 1960 at the end of the week.
Predication: EMAs crossed over so if price breaks the red trend line Gold can possibly fall to 1940. Also if The Fed continues to hike rates another 25bps in their next meeting. I see Gold reaching between 1950-1940.
If Fed decides to take a pause and price doesn't break the trend line then I will look for some long position for 1960 levels to about 1990-2000.
Day Trade Short Targets:
1952
1950
1945
1940
Predication: EMAs crossed over so if price breaks the red trend line Gold can possibly fall to 1940. Also if The Fed continues to hike rates another 25bps in their next meeting. I see Gold reaching between 1950-1940.
If Fed decides to take a pause and price doesn't break the trend line then I will look for some long position for 1960 levels to about 1990-2000.
Day Trade Short Targets:
1952
1950
1945
1940
1952 Done
1940 Done
1945 Done