Gold still Bearish??

6 dni temu

Today, Gold is expected to experience bearish volatility, primarily influenced by the anticipated CPI results.

➡️The price maintains a bearish outlook as long as it trades below 2612 and 2625, with potential targets at 2587 and, subsequently, 2554 if downward momentum continues.

➡️A bullish reversal would require a break above 2625, which may only be likely if the CPI release is below 2.6%.

🔴However, we expect a CPI outcome around 2.9%, indicating higher inflation, which would likely exert negative pressure on Gold.

🔻Key Levels:
Pivot Point: 2612
Support Levels: 2588, 2571, 2554
Resistance Levels: 2625, 2644, 2662

🔻Trend Outlook:
- Bearish while below 2612 and 2625
- Bullish if Break 2625