↘️ Strong influence from CPI news in the US session yesterday, when the announcement was very bad for USD, right after that Gold also had an increase but the main trend was still down so the sign of increase was still quite weak. Prices only swept to the highest area of 1970 and decreased immediately afterwards.
↘️ Looking into the past, we can see that before the sideway zone at the end of the bull cycle, gold had a long-term sideway rhythm in the 1970-2010 price range. It can be seen that the current price range shows signs of retesting the previous accumulation zone and preparing for a strong decline is entirely possible.
During this time, traders can prioritize selling when gold has important reversal patterns.
Wishing all Traders a very productive trading day.
↘️ Looking into the past, we can see that before the sideway zone at the end of the bull cycle, gold had a long-term sideway rhythm in the 1970-2010 price range. It can be seen that the current price range shows signs of retesting the previous accumulation zone and preparing for a strong decline is entirely possible.
During this time, traders can prioritize selling when gold has important reversal patterns.
Wishing all Traders a very productive trading day.
