Gold may increase slightly after Unemployment Claims news

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
According to flash data from CME Group, traders in the gold futures market have been reducing their open interest positions for the fourth consecutive session. This reduction amounted to nearly 2,000 contracts. The volume of trading also decreased significantly by almost 48,000 contracts after two consecutive days of increases.

The decline in open interest and volume has led to a drop in gold prices for three consecutive sessions. This suggests that a more significant pullback is not likely to occur in the immediate future. At present, the 200-day simple moving average (SMA) at around $1917 is providing strong support.

Overall, it appears that traders are cautious about further declines in gold prices and are finding support at key levels such as the 200-day SMA.

⭐️Personal comments NOVA:
With the bad Unemployment Claims data forecast for the dollar to increase slightly. May return to the 1925-1930 mark and continue the bearish trend of the week

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: $1927 - $1930 SL $1940
TP1: 1923
TP2: 1920
TP3: 1913

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest

Kommentar:

After the Unemployment Claims news was announced, good results for the Dollar Gold price continued to be affected by the decline but the amplitude was not much. Continue sideway around the 1915-1925 price range

Kommentar:

+ 25 pips , from entry 1927,2

Kommentar:

+ 30 pips , from entry sell 1927,2