Hey everyone! Let's dive into what's going on with gold after the CPI news.
We saw a spike, followed by a channel formation. But after losing channel support, I'm expecting gold to enter a trading range, starting with the first pullback post-spike.
Notice how gold experienced three bearish pushes, each weaker and shallower than the last, barely breaking the previous lows.
So, what's next? I'm predicting a rise. This could be further fueled by the delay in rate cuts amid ongoing inflation and the looming recession.
We saw a spike, followed by a channel formation. But after losing channel support, I'm expecting gold to enter a trading range, starting with the first pullback post-spike.
Notice how gold experienced three bearish pushes, each weaker and shallower than the last, barely breaking the previous lows.
So, what's next? I'm predicting a rise. This could be further fueled by the delay in rate cuts amid ongoing inflation and the looming recession.
Comment:
Wow, that was a solid analysis, and the price rose without any significant pullbacks.
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