PPI news continues to be bad for gold, SELL

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
With no major surprises in the US consumer inflation data, market participants are now confident that the Federal Reserve will maintain interest rates at their current level during next week's policy meeting. As a result, USD bulls are on the defensive and this is providing some support for Gold prices. The US Bureau of Labor Statistics has revealed that the headline Consumer Price Index (CPI) in the US increased by 3.7% on an annual basis in August, up from 3.2% in July. While this figure slightly exceeded expectations of 3.6%, the monthly reading was in line with forecasts at 0.6%.

⭐️Personal comments NOVA:
With forecasts and comments from experts, the US economy continues to recover, making the dollar more valuable, pushing gold prices to continue to decline. The head and shoulders technical pattern continues to support a decline in gold prices

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: $1918 - $1921 SL $1930
TP1: 1915
TP2: 1910
TP3: 1903

⭐️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
- The winner is the one who sticks with the market the longest

Komentar:

Price is falling around 1905 before the release of PPI news, support zone 1905 is difficult to overcome at this time