Gold prices edged slightly higher on Tuesday as traders await crucial U.S. inflation data due later in the day. The report is expected to provide further clues on the Federal Reserve's next move regarding interest rates.
🔍 Technical Outlook:
If the 1H candle closes above 3360, bullish momentum may continue. Potential upside targets are: 3400 and 3420, If the price closes below 3359, short-term selling pressure could push the price down toward: 3350 and 3345,
However, overall structure still supports a bullish trend, and price may rebound after a pullback.
Conclusion:
Technical indicators and market sentiment remain bullish. Watch closely for the U.S. CPI release — it could drive strong volatility and offer breakout opportunities.
If you like this idea if you have on Opinion about this analysis share in comments Thanks for Supporting
🔍 Technical Outlook:
If the 1H candle closes above 3360, bullish momentum may continue. Potential upside targets are: 3400 and 3420, If the price closes below 3359, short-term selling pressure could push the price down toward: 3350 and 3345,
However, overall structure still supports a bullish trend, and price may rebound after a pullback.
Conclusion:
Technical indicators and market sentiment remain bullish. Watch closely for the U.S. CPI release — it could drive strong volatility and offer breakout opportunities.
If you like this idea if you have on Opinion about this analysis share in comments Thanks for Supporting
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✅Join my Telegram Channel
t.me/Trade_With_Kb1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.