“Gold Analysis: Bullish Trend Remains Despite Recent Negotiations and Fed Statement”

It seems that the bears began to withdraw from their attacks after holding their breath following the recent negotiations over the troubled debt ceiling, which reached a near dead end. This is evident from the clear decline of all US indices, the rise of the fear index, and the return of an ounce of stability above 1950 levels, which gives hope to the bulls to regain the reins to knock on the door. The 2000 US dollars.

On the other hand, the recent Federal Reserve statement and its vision on the US economic situation in particular, and the global one in general, indicated to a large extent the failure to continue raising interest rates, and this came as a surprise to the financial markets, especially since the stock markets today are trading positively, timidly and cautiously.

Now the explanation has become more sensitive and subject to interpretation so trading should be done with caution.

technically:

On the daily time frame, we notice that the trend is still bullish, and the sign of the end of the negative correction is almost confirmed through the Tweezer candle, even by moving to the four-hour time frame, we see that the 1950 levels have not been breached, and this confirms the determination of the bulls, which will take advantage of the bears’ preoccupation with the dollar, to sparkle with gold again.

As for speculative selling deals, we will often see an attempt by bears to pressure up to 1966 levels, up to 1950 dollars.

As for the speculative purchasing deals, they will have the lion’s share if the candle closes on Monday above the 1985 levels. The purchasing crowd is expected from the 1953 levels and those close to them, and the targets are gradually 1988-2000 and 2015.

note:

– What I publish is personal judgment and not a recommendation to buy or sell.

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