Gold declining amid diminishing tensions.
Metal prices are varied, with gold declining amid diminishing tensions.
The price of gold is currently experiencing bearish momentum, targeting 2327 as long as it remains below 2342. Should it breach 2327, the bearish trend is expected to persist until reaching 2302. Conversely, a closure of a 4-hour candle above 2342 would indicate a potential rise to 2357.
Pivot Price: 2342
Resistance Levels: 2357, 2369, 2379
Support Levels: 2328, 2316, 2302
Today's anticipated trading range is between the support level at 2316 and the resistance level at 2369.
The price of gold is currently experiencing bearish momentum, targeting 2327 as long as it remains below 2342. Should it breach 2327, the bearish trend is expected to persist until reaching 2302. Conversely, a closure of a 4-hour candle above 2342 would indicate a potential rise to 2357.
Pivot Price: 2342
Resistance Levels: 2357, 2369, 2379
Support Levels: 2328, 2316, 2302
Today's anticipated trading range is between the support level at 2316 and the resistance level at 2369.
Comment:
The Fed does not anticipate that it will be appropriate to cut interest rates until it gains greater confidence that inflation is moving sustainably toward 2%.
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