gold price dropped $100 in friday last week on china central banking stopped buying gold and hot nfp number which risk fed projecting 2 cuts instead of 3 and first cut after election price now side near 2300 psychological number after big dump price has failed to breakout big yellow support zone near $2280 in first attempt
gold price dumped in big way on strong nfp number but price mostly came down before news but still you can't ignore 4% ur after long time you have declining trend line tested 5 time while rising rsi price have not even tested 2300 psychology level but sentiment are bad for gold right white first cut shift post election overall white trend line is your big...
price are going down in vertical line and heading towards big white support zone on recession fear in big economy after yesterday's pmi number EV trend also eating future demand for oil if global recession already began than EV trend after that recession recovery accelerate than oil may face multi year demand destruction
price going up testing white trend line on mania of first cut
price making rising wedge chart pattern on daily chart
yields went up inside a yellow channel now testing lower yellow line after breakout since rate cut are will begin soon so after retest of lower yellow line it can make new lower low
price is up again and made new all time high investors bought the dip at $2300 psychological level this new rally is testing upper and lower yellow line price has made yellow parallel channel
big resistance breakout and vertical meltup price made bottom in july 2022 since than it is up it is flying like there is no fear of recession it is flying like fed can have economic boom without inflation
after historic bull run gold price is mostly sideways below $2400 but we have a static resistance 2400 and dynamic support white trend line
last year price was mostly up but this year it is sideways above 60k and it has made lower low with lower high inside white parallel channel which also looks like flag pattern in long up trend on daily chart
price is going up because of big change in policy of two country it has breakout and now testing big yellow horizontal support you have perfect technical setup here blue parallel channel horizontal yellow support fomo buying in crowd for 160 level
rate is moving up in yellow parallel channel lower yellow line is working as perfect trend line in recent may fomc fed has said he neither see stag or flation if there are no hike in future then lower trend line must break if second wave of rate hike is coming then trend line must hold and it can go up 5%
this pair is going up inside a parallel channel trend is bullish until trend line breaks bearish if trend line breakout (breakout retest repeat)
price is testing last big resistance $30 fomo buying and sentiment have reached its limit with resistance at $30 if this level don't breakout with big support news then silver may have peak, like it bottom in auugst 2022 light years ahead of fed first rate cut buy the rumor sell the news old trend of rate cut is over get ready for new trend of fiscal policy
white line broken we have possible triangle pattern in blue lines silver made bottom ahead of gold for fed pivot you can say silver is light year head of fed decision for next fed fomc watch if breakout sustain or fakeout
whole trend started from 1620 has now reached its wxy projection inside a parallel channel with trend near its peak at current price 2260 gold is highly overbought driven by means macro factor creating fomo buying in gold if breakout from here then 2150 next meltup target while sub wave of Y don't have clear wave counting until we get trend reversal
price is back where it was after fed last dovish fomc speech it ignored latest waller hawkish comments first 12345 then abc correction - price now testing big h4 resistance zone
price is struggle to break 151 level if failed to break then this will be big reversal