Would the GOLD plunge while FED is planning rate cut?
Hello Traders,
We are back with our Gold Analysis on Weekly Timeframe. We found there is a nice clear pattern constitute the Elliot Wave Analysis. Following that, the market is expected to retrace in corrective moves which shall break the $2480 support level. If you go down to lower timeferame such as 8H/12H, you probably noticed a SAN ZAN (Triple Top) which means market already exhausted.
As such, we are targeting the price to travel down to the $2200 level for the coming months. But we shall wait and see for confirmation if the FED rate cut will affect the gold to rise or not.
Leave your comment below if you have any idea to share.
https://www.tradingview.com/x/FL1Rgsec/
We are back with our Gold Analysis on Weekly Timeframe. We found there is a nice clear pattern constitute the Elliot Wave Analysis. Following that, the market is expected to retrace in corrective moves which shall break the $2480 support level. If you go down to lower timeferame such as 8H/12H, you probably noticed a SAN ZAN (Triple Top) which means market already exhausted.
As such, we are targeting the price to travel down to the $2200 level for the coming months. But we shall wait and see for confirmation if the FED rate cut will affect the gold to rise or not.
Leave your comment below if you have any idea to share.
https://www.tradingview.com/x/FL1Rgsec/
הפקודה בוטלה
The yellow metal doesn't not follow our plan and attain a new high. We shall keep you updated with new plan in coming days
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.