Hey everyone! Let's dive into what's going on with gold after the CPI news.
We saw a spike, followed by a channel formation. But after losing channel support, I'm expecting gold to enter a trading range, starting with the first pullback post-spike.
Notice how gold experienced three bearish pushes, each weaker and shallower than the last, barely breaking the previous lows.
So, what's next? I'm predicting a rise. This could be further fueled by the delay in rate cuts amid ongoing inflation and the looming recession.
We saw a spike, followed by a channel formation. But after losing channel support, I'm expecting gold to enter a trading range, starting with the first pullback post-spike.
Notice how gold experienced three bearish pushes, each weaker and shallower than the last, barely breaking the previous lows.
So, what's next? I'm predicting a rise. This could be further fueled by the delay in rate cuts amid ongoing inflation and the looming recession.
Note
Wow, that was a solid analysis, and the price rose without any significant pullbacks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.