Hey, traders. We had PPI yesterday, and there was a big movement at that moment.
Let's check what affect the price and how it will move.
We can see
1. short-term descending channel had broken.
2. small box pattern had extended.
3. resistance on 1825 and 1835.
We should check
Wednesday - Britain CPI , US core Retail Sales, US Retail Sales, BOE Gov Bailey Speaks, Britain Inflation Report Hearings, ECB President Lagarde Speaks, Crude Oil Inventories
Thursday - Euro CPI , Britain Autumn Forecast Statement, US Building Permits, US Initial Jobless Claims, US Philadelphia Fed Manufacturing Index
Friday - Britain Retail Sales, ECB President Lagarde Speaks, Existing Home Sales
We can expect
1. jump up to 1825 ~ 1835 by breaking resistance on 1775
2. the price dropping by resistance on 1775 and rebounding from 1725
PPI had affect the market but it wasn't a game changer but blast in Poland by Russian missile is making the price unable to go up right now.
The gold price will head to 1825~1835 but we should think about that issue.
Let's see how the price moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Let's check what affect the price and how it will move.
We can see
1. short-term descending channel had broken.
2. small box pattern had extended.
3. resistance on 1825 and 1835.
We should check
Wednesday - Britain CPI , US core Retail Sales, US Retail Sales, BOE Gov Bailey Speaks, Britain Inflation Report Hearings, ECB President Lagarde Speaks, Crude Oil Inventories
Thursday - Euro CPI , Britain Autumn Forecast Statement, US Building Permits, US Initial Jobless Claims, US Philadelphia Fed Manufacturing Index
Friday - Britain Retail Sales, ECB President Lagarde Speaks, Existing Home Sales
We can expect
1. jump up to 1825 ~ 1835 by breaking resistance on 1775
2. the price dropping by resistance on 1775 and rebounding from 1725
PPI had affect the market but it wasn't a game changer but blast in Poland by Russian missile is making the price unable to go up right now.
The gold price will head to 1825~1835 but we should think about that issue.
Let's see how the price moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
