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๐ตMacroeconomic Outlook
After the Fed decision, sales dominated the markets.
For inflation to fall, commodity prices must fall.
The Fed is aware of this situation.
Commodity prices have a significant impact on inflation.
Currently, the product with the weakest outlook in the commodity market and with sellers is gold.
๐According to Technical Analysis
โณWhen we examine the price chart in the monthly term
After the 1680 support level was broken, selling hardened.
When we pull Fibonacci from 4 to 5, 1.13 Fibonacci level is $1630.
When we draw 2 to 5 fibonachis, the 0.5 Fibonacci level is $1620.
Even if the reaction rises from the $1620-1630 levels, the price may fall to the 1500-1450 levels.
The target of the double top at the 2070 level is $1270, but I don't think the price will drop to this point.
๐ตMacroeconomic Outlook
After the Fed decision, sales dominated the markets.
For inflation to fall, commodity prices must fall.
The Fed is aware of this situation.
Commodity prices have a significant impact on inflation.
Currently, the product with the weakest outlook in the commodity market and with sellers is gold.
๐According to Technical Analysis
โณWhen we examine the price chart in the monthly term
After the 1680 support level was broken, selling hardened.
When we pull Fibonacci from 4 to 5, 1.13 Fibonacci level is $1630.
When we draw 2 to 5 fibonachis, the 0.5 Fibonacci level is $1620.
Even if the reaction rises from the $1620-1630 levels, the price may fall to the 1500-1450 levels.
The target of the double top at the 2070 level is $1270, but I don't think the price will drop to this point.