Gold: In the US session on Friday, Gold made an unexpected move on comments by FED chairman , Powell. Powell said that there is stress in the banking sector and interest should not be high.
“Our policy rate may not need to rise as much as it would have otherwise to achieve our goals,” he added. “Of course, the extent of that is highly uncertain.” I am very watchful on the gold movement.
Technicals: On Daily Chart, Price is above the 200 SMA , 50 SMA is at 1985-86 to challenge the upward movement.
As per structure, Currently gold is moving in the triangle. On Breaking of 1993-95 i will revise my bearish out look. On downside, breaking of 1950 will expose to the movement towards 1935, My target as a bear.
Do Comment on the idea and Odds.
“Our policy rate may not need to rise as much as it would have otherwise to achieve our goals,” he added. “Of course, the extent of that is highly uncertain.” I am very watchful on the gold movement.
Technicals: On Daily Chart, Price is above the 200 SMA , 50 SMA is at 1985-86 to challenge the upward movement.
As per structure, Currently gold is moving in the triangle. On Breaking of 1993-95 i will revise my bearish out look. On downside, breaking of 1950 will expose to the movement towards 1935, My target as a bear.
Do Comment on the idea and Odds.