Gold sideways - large range 2605 - 2682! next week
✍️ NOVA hello everyone, Let's comment on gold price next week from 10/14 - 10/18/2024
🔥 World situation:
Gold surged over 1% on Friday, with the metal on track to close the week with a modest 0.20% gain, following inflation data and Thursday's Consumer Price Index (CPI) report, which slowed the US Dollar’s advance. Currently, XAU/USD is trading at $2,658.
Mixed economic data supported gold's rise. The US Bureau of Labor Statistics (BLS) reported producer prices close to expectations, signaling inflation is declining but still above forecasts. Meanwhile, the University of Michigan's October Consumer Sentiment showed a decline, reflecting concerns about higher living costs.
🔥 Identify:
After gold broke the H1 downtrend, there was a recovery above 2650. Still in the long-term H4 uptrend. However, there is a high possibility that it will still move sideways to accumulate more in October (price range 2605-2682).
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2682, $2700, $2710
Support : $2629, $2605, $2575
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
🔥 World situation:
Gold surged over 1% on Friday, with the metal on track to close the week with a modest 0.20% gain, following inflation data and Thursday's Consumer Price Index (CPI) report, which slowed the US Dollar’s advance. Currently, XAU/USD is trading at $2,658.
Mixed economic data supported gold's rise. The US Bureau of Labor Statistics (BLS) reported producer prices close to expectations, signaling inflation is declining but still above forecasts. Meanwhile, the University of Michigan's October Consumer Sentiment showed a decline, reflecting concerns about higher living costs.
🔥 Identify:
After gold broke the H1 downtrend, there was a recovery above 2650. Still in the long-term H4 uptrend. However, there is a high possibility that it will still move sideways to accumulate more in October (price range 2605-2682).
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2682, $2700, $2710
Support : $2629, $2605, $2575
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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