Gold : Navigating CPI Impact and Key Price Level

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Technical Analysis: Gold

The price has surged, reaching our previously mentioned target of 2380. and still running to get 2397

Current Outlook:
Gold's price is expected to move under the influence of the upcoming CPI report. Technically, the trend remains bullish, with the potential to reach 2397 at least.

Bullish Scenario:
If the CPI result is released below expectations (under 3.1%), the uptrend is likely to continue, targeting 2397 and 2420.

Bearish Scenario:
If the CPI result exceeds expectations, especially above 3.2%, the price may decline, targeting 2356 and 2342.

general tendency is UPTREND

Key Levels:
- Pivot Line: 2378
- Resistance Levels: 2397, 2410, 2420
- Support Levels: 2356, 2342, 2322

Today's Expected Range:
The price is anticipated to fluctuate between the support at 2356 and the resistance at 2420, with a bullish tendency.

In summary, the direction of gold's price will be significantly influenced by the CPI results. Monitoring these key levels and economic indicators will be crucial for anticipating the next market moves.

previous idea:

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ملاحظة

Reached the second target we mentioned and still tunning

As long as the price trades above 2397 means the movement will be between 2397 and 2426 till breaking