Gold, CPI, Trendline breakout - Precious metals briefing

11 Agu 2023

These developments are leaving the yellow metal in a precarious state heading into the final 24 hours of this week. On the daily chart below, gold appears to be confirming a breakout under a rising trendline from February.

From here, immediate support is the 38.2% Fibonacci retracement level at 1903. Pushing below this price opens the door to an increasingly bearish technical bias.

14 Agu 2023

Catatan

Yields on 10-year US government bonds last week increased continuously, from 4% to 4.138%/year, making gold less attractive.

15 Agu 2023

Catatan

Before the strength of the USD and bonds, speculators limited their holdings of precious metals, causing the world gold price to drop to 1,902 USD/ounce last night.

15 Agu 2023

Catatan

BUY XAUUSD zone 1899 - 1902

SL: 1896

TP: 1905
TP: 1908

16 Agu 2023

Trading ditutup: target tercapai

It's Hit TP2 + 90pips 🧃🧃🧃

16 Agu 2023

Catatan

Immediate support is the 38.2% Fibonacci retracement level at 1903. A confirmatory close under this point exposes the midpoint at 1848. Otherwise, in the event of a turn higher, keep a close eye on the falling trendline from April. This could hold as resistance, maintaining the near-term downside focus.

16 Agu 2023

Catatan

🔹JP_Morgan shares lose $11 billion in one day, and General Motors shares fall to their lowest level in two months.