Gold Gains on Growing Rate-Cut Hopes Ahead of Fed Meeting

29 Jul

GOLD Price reached their resistance line which is 2397 and now stabilized under it,

For Today, the price will consolidate between 2397 and 2386 till breaking

Bullish Scenario:
The price should stabilize above 2397 by closing 4h candle above it, to be a bullish trend toward 2412 and 2420

Bearish Scenario:
The price should stabilize under 2397 and 2386 to get 2378 and 2356, by stabilizing under 2378

Key Levels:
- Pivot Line: 2397
- Resistance Levels: 2412, 2420, 2428
- Support Levels: 2386, 2378, 2357

Today's Expected Range:
The price is anticipated to fluctuate between the support at 2378 and the resistance at 2412

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Gold Gains on Growing Rate-Cut Hopes Ahead of Fed Meeting

Gold futures rose 0.3% to $2,388.60 per ounce as anticipation of a U.S. interest-rate cut grows before the Federal Reserve's meeting this week. While a rate hold is expected, any hints of future cuts will be closely watched. Other precious metals also gained, with silver up 0.3% to $28.11 and platinum up 0.7% to $950.70 per ounce. In contrast, copper prices weakened, down 0.2% to $9,073 per metric ton amid concerns over Chinese demand.

29 Jul

Catatan

#GOLD
Update

Hit Target +95 pip✅

so now should close at least 1h candle under 2386.5 to be a bearish trend till 2377

If you want you can close another part of your trade and for the rest you stop should above 2397