16-Nov-2023
Gold Bulls are Back
Fundamental Punchline - Recent weak US inflation data hurt chances of another US interest rate hike in December. In the US,
consumer prices rose 3.2% y/y in October, slowing down from 3.7% in the previous reading, and below estimates of 3.3%.
Technical Bias - After a healthy retracement from hitting 2000, the yellow metal now seems to have found support a ready to go
on another bullish run, giving us a decent potential trade for a 1-4 risk to reward swing trade from here. #OPINIONLEADER# #GOLDTODAY#
Edited 16 Nov 2023, 18:00
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.