Free Forex tips, FREE Stock, Commodity & Forex tips, Gold & Silver ( Bullion ) tips

Gold will come back to the $1800 level?

free commodity gold (xauusd) signals

free commodity gold (xauusd) signals

On 16 July, gold has crashed over $60 during the FOMC event. At that time, Commodity Futures Trading Commission (CFTC) data was highlighting selling pressure.

Golds Commodity Futures Trading Commission (CFTC) data

And on 27 July, CFTC data was said OI (Open Interest) of a gold future contract is 500,187 and total shorts 481,533 & buys 452,107. But, gold prices increased.

We have to notice that the bullish rally wasn’t powerful compare to the 16 July data. And selling pressure has higher compare to buyers. Hence, gold has moved bearish side in the last trading session.

If gold wants to move upside, then it has to crossover my strong resistance. That will lead the gold’s prices above 1840 – 1860 – 1882 – 1900.

But if you focus fundamentally & CFTC data, XAUUSD will keep falling and touch the following targets: 1800 – 1793.6 – 1783.6 – 1763.6. Gold is making double top formation also.

Get free MCX ideas, chart setups, and analysis for the upcoming session: Commodity Tips

Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.

Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.

Previous ArticleNext Article
Mr.Dev(s) is a team of non-biased certified technical and research analysts with extensive experience in the financial markets dating back to 1997. They accurately forecast market movements and position their clients accordingly. They are popular online contributors on many channels and platforms, known for their non-biased advice and commitment to helping investors make informed decisions. The team is also the founder of forex account management services on Moneymunch.com, demonstrating their knowledge and experience in the financial world. Investors can rely on Mr.Dev(s) for research reports and opinions, as well as trading guidance.

Join Today (Free): Commodity Tips | Forex Signals

Write a Comment

Comment Policy: We love comments and appreciate the time that readers spend to share ideas and give feedback. However, all comments are manually moderated and those deemed to be spam or solely promotional will be deleted. Your email address will not be published. Required fields are marked *