As we bid farewell to last week, the markets witnessed a long bearish trend, with gold hitting its lowest point in seven months. The resounding question now: will this bearish momentum persist in the days ahead?
🔍 Key Observations:
1️⃣ Long Bearish Weekly Candle: The week closed with a prolonged bearish trend, signaling caution in the market.
2️⃣ Gold at a Seven-Month Low: Gold prices plummeted to their lowest levels, raising concerns among investors.
3️⃣ Expecting Continued Bearish Momentum: All eyes are on the market this week, anticipating the continuation of this bearish trend.
4️⃣ Support Levels: Breaking through support zones at 1875 and 1850, the next crucial support level looms around 1810, shaping the path for bears in the market.
5️⃣ October's Turning Point: The first week of October is packed with pivotal events: NFP, unemployment claims, and Fed chairman speeches. The Dollar’s performance might pave the way for unexpected market turns.
Stay informed and vigilant as the market navigates through these shifts. Your understanding of these dynamics is your best tool in these uncertain times. 📊💡 #MarketTrends #InvestmentInsights #FinancialMarkets #StayInformed
🔍 Key Observations:
1️⃣ Long Bearish Weekly Candle: The week closed with a prolonged bearish trend, signaling caution in the market.
2️⃣ Gold at a Seven-Month Low: Gold prices plummeted to their lowest levels, raising concerns among investors.
3️⃣ Expecting Continued Bearish Momentum: All eyes are on the market this week, anticipating the continuation of this bearish trend.
4️⃣ Support Levels: Breaking through support zones at 1875 and 1850, the next crucial support level looms around 1810, shaping the path for bears in the market.
5️⃣ October's Turning Point: The first week of October is packed with pivotal events: NFP, unemployment claims, and Fed chairman speeches. The Dollar’s performance might pave the way for unexpected market turns.
Stay informed and vigilant as the market navigates through these shifts. Your understanding of these dynamics is your best tool in these uncertain times. 📊💡 #MarketTrends #InvestmentInsights #FinancialMarkets #StayInformed
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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.
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.