Gold Analysis & Forecast:
The Gold is trading in a range bound Range (2020-2040) . The Price need to break these levels for further long term direction Bias.
The Interest rate cut timing factor is all playing on the Gold Price. US Stocks has become bullish and factored in the Interest rate cut. And to some extent , beyond ETF , BTC has also factored in the US interest rate Cut. Assuming the same pathway, Gold Should be flying towards 2200-2300. Yet Gold is reluctant to sustain above 2040 level. Now what?
Well ! Price is above 200 & 100 DMA and not too below under 50 and 20 DMA (Acting Softly right now) At same time Trend line is supporting price at 2018-2020. That’s not a bearish signs. However, Friday Price movement tends me to think Bearish for short term but bullish in long term. Candles are kind of bearish, but structure is range bound - Neutral. My stance is Neutral for now.
So I will be watching 2020 or 2039 (200 SMA- 4 H) effective break for any price action.
Good Luck for the next Week!
The Gold is trading in a range bound Range (2020-2040) . The Price need to break these levels for further long term direction Bias.
The Interest rate cut timing factor is all playing on the Gold Price. US Stocks has become bullish and factored in the Interest rate cut. And to some extent , beyond ETF , BTC has also factored in the US interest rate Cut. Assuming the same pathway, Gold Should be flying towards 2200-2300. Yet Gold is reluctant to sustain above 2040 level. Now what?
Well ! Price is above 200 & 100 DMA and not too below under 50 and 20 DMA (Acting Softly right now) At same time Trend line is supporting price at 2018-2020. That’s not a bearish signs. However, Friday Price movement tends me to think Bearish for short term but bullish in long term. Candles are kind of bearish, but structure is range bound - Neutral. My stance is Neutral for now.
So I will be watching 2020 or 2039 (200 SMA- 4 H) effective break for any price action.
Good Luck for the next Week!