GOLD: Bottom or Bounce?

Hello everyone! Today i want to share some macro analysis with you!

TECHNICAL: Gold prices continue to fall, confirming the break below the major bullish trend line as its daily candlestick closed below it, coming under additional negative pressure during the day and pointing to the 2600 and 2515 levels as the next major targets.

Hence, more downside is expected in the upcoming trades considering that a breakout above 2640 will stop the current negative pressure and steer the price back to the major bullish trend.

Expect today's trading range to be between 2605 support level and 2645 resistance level.

Trend forecast: Bearish! Trading is dominated by sell order trades!

Strategy: Sell: 2634-2637

TP:2620-2615-2610

SL:2645 (SL is set according to personal habits)

Macro Trend

Monetary policy, various types of price indices... Here is everything about the macro economy!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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