R.Linda Trading

A Professional View

A Professional View

Of The Market

Of The Market

R.Linda Trading

R.Linda Trading

R.Linda Trading - forecast

GOLD ( XAUUSD ) - Pullback from 2477. What's next? News ahead...

2024-08-13 10:37 GOLD Forecast

👑 Ideas For #XAUUSD / #GOLD

📈 Pullback from 2477. What's next? News ahead...

———————————————

GOLD strengthens to an interim high and hits strong resistance at 2477.5. Gold is not ready to break the boundary yet and is forming a pullback ahead of the news - PPI to be released at 12:30 GMT

snapshot

Fundamentally, traders are still watching the situation in the Middle East as there are rumors of different nature every day. If the conflict escalates, it will only increase the interest in the metal.

Also, traders are waiting for PPI (one of the key inflation reports) as well as CPI (to be published on Wednesday) to determine if the US Federal Reserve is preparing a significant interest rate hike after the weak employment report.

Technically, 2477 and 2458 are worth watching. If price starts to return to resistance and consolidate near the level, then a breakout is worth waiting for. But a break of support at 2458 will send the price down to the zone of interest before a possible rise.

Resistance levels: 2477, 2483

Support levels: 2458, 2450, 2439

Key focus on news and market fundamentals that could set a medium-term tone for the dollar and gold. But, technically gold is strongly bullish...

YOUR INVESTMENTS ARE YOUR RESPONSIBILITY

The information on the RLinda.com website and inside our Telegram group is intended for educational purposes and is not to be construed as investment advice. Trading the financial markets carries a high level of risk and may not be suitable for all investors. Before trading, you should carefully consider your investment objective, experience, and risk appetite. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. RLinda, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.
Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

RLinda.com takes no responsibility for loss incurred as a result of the content provided inside of our Telegram groups. By signing up as a member you acknowledge that we are not providing financial advice and that you are making the decision on the trades you place in the markets. We have no knowledge of the level of money you are.

The RLinda.com website uses cookies in order to provide you with the best experience. By visiting our website with your browser set to allow cookies, or by accepting our cookie policy notification you consent to our privacy policy, which details our cookie policy.

COMPANY

SERVICE

Terms of Service