➡️ The metal staged an aggressive rally yesterday. The resistance was broken at 1834$ and soared to 1869$. The reason for this jump was the unexpectedly strong data on consumer price inflation (CPI) in the US for October, published on Wednesday. Thus, the growth of the general index to the level of 6.2% y / y was the highest since 1990. This led to a sharp surge in demand for GOLD as a traditional hedging instrument against inflationary risks.
Subsequently, the price of the precious metal rolled back to the area of $1853, but continues to maintain a bullish mood. The strengthening of GOLD is likely to continue.
There is strong support in the price area 1824.630$ - 1834.360$, which will inevitably benefit the buyers. It is from here that it is supposed to look for an Entry Point to BUY. The parameters of the transaction are, as always, presented below.
🔔Proposed deal for this tool🔔:
🔵Entry Point - 1830.472
⛔️Stop Loss - 1809.906
✅Take Profit - 1871.603
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
Subsequently, the price of the precious metal rolled back to the area of $1853, but continues to maintain a bullish mood. The strengthening of GOLD is likely to continue.
There is strong support in the price area 1824.630$ - 1834.360$, which will inevitably benefit the buyers. It is from here that it is supposed to look for an Entry Point to BUY. The parameters of the transaction are, as always, presented below.
🔔Proposed deal for this tool🔔:
🔵Entry Point - 1830.472
⛔️Stop Loss - 1809.906
✅Take Profit - 1871.603
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
