Gold Selling Strategy after PMI news, still under pressure
August gold futures last traded at $1,929.5 per ounce, up $0.2 from dawn the day before.
Although prices were almost unchanged from dawn the day before, they were down from the gains made during the day. Earlier, gold prices reversed gains as the latest report for failed manufacturing activity slowed for the eighth straight month.
Following the report, gold prices rose to a new daily high of $1,939.9 an ounce. The price of gold for August futures on the Comex exchange rose 0.32% on the day.
Gold trend forecast, technically, gold bulls have the overall near-term technical advantage with the next goal of producing a close above solid resistance at 2,000. USD/ounce. The next near-term downside downside price objective of the underlying downside is for copper futures to consolidate below solid technical support at the February low of $1,846.8.
On the future, commodity analysts at Heraeus Precious Metals said that the "hawkish" stance of the US Federal Reserve (Fed) could keep the pressure on gold prices longer.
XAUUSD SELL 1928- 1930💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1938
Although prices were almost unchanged from dawn the day before, they were down from the gains made during the day. Earlier, gold prices reversed gains as the latest report for failed manufacturing activity slowed for the eighth straight month.
Following the report, gold prices rose to a new daily high of $1,939.9 an ounce. The price of gold for August futures on the Comex exchange rose 0.32% on the day.
Gold trend forecast, technically, gold bulls have the overall near-term technical advantage with the next goal of producing a close above solid resistance at 2,000. USD/ounce. The next near-term downside downside price objective of the underlying downside is for copper futures to consolidate below solid technical support at the February low of $1,846.8.
On the future, commodity analysts at Heraeus Precious Metals said that the "hawkish" stance of the US Federal Reserve (Fed) could keep the pressure on gold prices longer.
XAUUSD SELL 1928- 1930💯💯
✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910
🛑 SL: 1938
Kommentera:
Running +60Pips ✅
Kommentera:
Running +70Pips ✅
