GOLD 01/06: GOLD after PMI

2 Jun 2023

GOLD prices are heading towards a sustainable break above $1980 as Fed policymakers are divided over June's interest rate policy.

Fed Harker and Jefferson support a pause on policy tightening while Fed Mester sees no reason to pause.

GOLD price is accumulating strength to break above the horizontal resistance at $1984.25 after breaking the downsloping trendline.

I expect GOLD to have a dip towards the 1970$ support then resume the uptrend. gold continues wave 5 of the Dow theoretical.

The level I expect GOLD to reach is 1980$, 2000$

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

Make sure you have enough Stoploss to win the market.

Have a nice day!!!