Continue to accumulate - gold price moves slowly around 4050⭐️GOLDEN INFORMATION:
Gold (XAU/USD) trades firmer near $4,075 in early Asian hours on Monday, supported by rising expectations of a Fed rate cut following comments from John Williams. Attention now turns to Tuesday’s US September PPI and Retail Sales data.
Williams noted Friday that the Fed could still lower rates soon without derailing progress on inflation. Markets now see nearly a 74% chance of a December cut, up from 40% last week, according to the CME FedWatch Tool. Softer rates would lower the opportunity cost of holding non-yielding gold, offering the metal additional support
⭐️Personal comments NOVA:
Gold price continues to accumulate and move sideways in the range: 4000 - 4100, The market did not have many major changes at the beginning of the week.
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: 4143 - 4145 SL 4150
TP1: $4130
TP2: $4120
TP3: $4100
🔥BUY GOLD zone: 4003 - 4001 SL 3996
TP1: $4016
TP2: $4028
TP3: $4040
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
