GOLD Hits $2,300 Support Zone as Fed Officials Maintain Hawkish

26 de jun. de 2024

🟡 Gold pushed lower to around $2,300 on Wednesday as investors weighed comments from Federal Reserve (Fed) officials, who remain hesitant to cut interest rates amid persistently high inflation. This reluctance by the Fed to reduce rates has exerted downward pressure on gold prices.

However, the Commitment of Traders (COT) report reveals strong institutional interest in gold, indicating a substantial long position. Additionally, the price has reached a significant demand area that aligns with the 78.6% Fibonacci retracement level at the $2,300 support zone. This convergence of factors is further supported by a divergence, suggesting a potential bullish reversal.

Given these conditions, we are considering adding another long position in gold from this point, anticipating a rebound from the current support level.

27 de jun. de 2024

Nota

✅ Looks Good !

27 de jun. de 2024

Trade fechado: objetivo atingido

✅ Close 50% Second Position and Move SL to Breakeven

28 de jun. de 2024

Trade ativo

✅ STILL GOOD

1 de jul. de 2024

Trade ativo

✅ I'm Moving SL to Breakeven

3 de jul. de 2024

Trade fechado: objetivo atingido

✅ I'm Closing 100% Both Positions. Great profit...