Strifor || GOLD-11/12/2023
Preferred direction: SELL
Comment: Previously, before the NFP, we expected the metal to rise, but the price simply fell through, and as a result, we did not receive the expected entry point. On Friday, most of the purchases failed to force the price to move up, so most likely we should expect the instrument to go even lower in the short term.
The current target for the metal is located at the level of 1949, and most likely, gold will fall to this level from current prices (scenario 1). A less likely outcome is that the price will make a small false upward movement and then fall back to the same target (scenario 2).
Thank you for like and share your views!
Comment: Previously, before the NFP, we expected the metal to rise, but the price simply fell through, and as a result, we did not receive the expected entry point. On Friday, most of the purchases failed to force the price to move up, so most likely we should expect the instrument to go even lower in the short term.
The current target for the metal is located at the level of 1949, and most likely, gold will fall to this level from current prices (scenario 1). A less likely outcome is that the price will make a small false upward movement and then fall back to the same target (scenario 2).
Thank you for like and share your views!
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