🔱 GOLD TRADE IDEA 🔱
BIAS: Mixed but tilted toward Bullish
FUNDAMENTAL BIAS: Mixed Bullish
Gold is likely to gain from the Moscow- Kyiv tussle which remains the key driver for the demand of the precious metal.
Gold status as an inflation hedge seems balanced by the anticipation of sustained hawkishness from major central bank efforts to lower inflation numbers by increasing their interest rates.
TECHNICAL BIAS: Bullish
I can expect price to be on a bullish continuation from 1965 support level inline from the pullback from 1988. Alternatively, price may break through 1965 and drop to second support target level of 1950 in line with graphical pullback support.
Areas of interest:
-H4 timeframe, 1st support at 1965
-H4 timeframe, 2nd support at 1950
BIAS: Mixed but tilted toward Bullish
FUNDAMENTAL BIAS: Mixed Bullish
Gold is likely to gain from the Moscow- Kyiv tussle which remains the key driver for the demand of the precious metal.
Gold status as an inflation hedge seems balanced by the anticipation of sustained hawkishness from major central bank efforts to lower inflation numbers by increasing their interest rates.
TECHNICAL BIAS: Bullish
I can expect price to be on a bullish continuation from 1965 support level inline from the pullback from 1988. Alternatively, price may break through 1965 and drop to second support target level of 1950 in line with graphical pullback support.
Areas of interest:
-H4 timeframe, 1st support at 1965
-H4 timeframe, 2nd support at 1950
Pullback to 1950 area of interest