Will GOLD record a new price of $2,540 again?
Gold prices rose ground on Monday, buoyed by a weaker dollar and Treasury yields, after U.S. Federal Reserve Chair Jerome Powell’s dovish remarks cemented expectations for a September rate cut.
Generally, the trend is up.
Uptrend Side: The price closed the daily candle above 2500, activating the upward trend. If the 4-hour candle closes above 2514, it is expected to reach 2527, which is currently the key level where gold is trading. If this level is breached, we should be prepared for a potential rise to a new high at 2540.
Downtrend Side: the price should make a strong correction until 2500, then stabilize under it by closing the 4H or 1D candle to touch the 2475, and under it will take the descending procedure.
Tendency Keys: 2527
Generally, the trend is up.
Uptrend Side: The price closed the daily candle above 2500, activating the upward trend. If the 4-hour candle closes above 2514, it is expected to reach 2527, which is currently the key level where gold is trading. If this level is breached, we should be prepared for a potential rise to a new high at 2540.
Downtrend Side: the price should make a strong correction until 2500, then stabilize under it by closing the 4H or 1D candle to touch the 2475, and under it will take the descending procedure.
Tendency Keys: 2527
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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