GOLD 01/06: Gold runs ahead of ADP news

1 Jun 2023

GOLD Our Technical Confluence Indicator Signals Gold Price Retreating From A 1965 Resistance Confluence Including Fibonacci 38.2% In One Day And 61.8% In One Week, As Well As 23.6% In One Day month.

That said, the quote now seesaw around the 61.8% Fibonacci for a day, around $1,960, a break of which would see a bumpy road before testing the $1,950 support level including including the Fibonacci level of 23.6% for a week.

Accordingly, the one-day 161.8% Fibonacci and 100 DMA could act as a last resort for gold buyers near 1940$ and 1935, respectively.

Meanwhile, a successful break of the $1,965 barrier by XAU/USD could quickly reclaim $1,960 on the chart, including the one-week Pivot Point R1.

I expect gold to collapse from 1956 to 1940 and we will buy GOLD together around the 1940$-1943$ zone

Stoploss: 1930

The level I expect GOLD to return is 1948$, 1953$, 1960$

I hope everything goes according to plan and you make a lot of money

1 Jun 2023

Catatan

Let's wait for the news tonight

1 Jun 2023

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