Spot gold remains firmly in red for the second straight day and falls to two-week low on Wednesday, in extension to Tuesday’s 1% drop, pressured by stronger dollar on expectations global inflation concerns could prompt central banks for more aggressive steps in tightening monetary policies.
Markets bet for 0.5% rate rise from the Fed in coming two policy meetings, although the longer-term outlook remains unclear, while inflation in the EU reached new record high, increasing pressure on the ECB to end its ultra-loose policy.
Tuesday’s close below 200DMA brought moving averages into bearish setup on daily chart, with completion of failure swing pattern and retracement of 50% of $1786/$1869 upleg, adding to negative signals, though partially offset by still positive momentum.
Near-term bias is expected to remain with bears while the price action holds below 200DMA ($1840), but bears need further negative signal on close below $1828 (cracked Fibo 50%) to reinforce negative stance. Conversely, bears would lose traction on return and close above 200DMA.
Res: 1840; 1844; 1850; 1862.
Sup: 1828; 1818; 1806; 1800.
Peringatan: Pendapat yang disampaikan sepenuhnya merupakan milik penulis dan tidak mencerminkan posisi resmi Followme. Followme tidak bertanggung jawab atas keakuratan, kelengkapan, atau keandalan informasi yang disediakan, serta tidak bertanggung jawab atas tindakan apa pun yang diambil berdasarkan konten ini, kecuali dinyatakan secara tertulis.
Belum ada komentar. Jadil yang pertama untuk membagikan komentar.