Daily price is located above 100 SMA/200 SMA reversal zone on the bullish area of the chart within the following support/resistance levels: 1375.11 resistance located far above 200 SMA in the bullish area of the chart, and1305.46 support level located in the beginning fo the secondary correction. If the price will break 1375.11 resistance level so the primary bullish trend will be continuing. If the price will break 1305.46 support level so the local downtrend ...
We looked at the precipitous fall in Gold prices on the back of a more hawkish Federal Reserve that spent much of the month of May talking up the prospect of higher rates in the United States. This prospect of higher rates was a huge change-of-pace for markets, which had built-in the expectation for the Fed to be extremely dovish after the risk-aversion that put up sizeable moves at the beginning of the year. And that inferred dovishness was hugely helpful ...
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