izwanhafizi
@t_izwanhafizi
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izwanhafizi
I believe that the outlook for gold is bullish in the short term. The recent decline in U.S. inflation has led to expectations of a less-hawkish Fed, which is positive for gold. Additionally, the technical picture for gold is bullish, with the price breaking above its recent resistance levels. Forecast price from today until Friday Using all the technical analysis and deep learning models that I have access to, I forecast the potential price of gold from today until Friday as follows: Forecast Price Wednesday, November 15, 2023 $1,980 Thursday, November 16, 2023 $1,990 Friday, November 17, 2023 $2,000 Potential support and resistance points The potential support level for gold is around $1,960, which is the recent swing low. The potential resistance level for gold is around $2,009, which is the recent swing high. Other relevant information The U.S. dollar is expected to remain weak in the short term, which is positive for gold. The Federal Reserve is expected to be less hawkish in the future, which is also positive for gold. The technical picture for gold is bullish, with the price breaking above its recent resistance levels. Conclusion I believe that the outlook for gold is bullish in the short term. The recent decline in U.S. inflation, the weak U.S. dollar, and the less-hawkish Fed are all positive for gold. Additionally, the technical picture for gold is bullish. I forecast the potential price of gold to reach $2,000 by the end of the week.
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Any content and materials included in Sahmeto's website and official communication channels are a compilation of personal opinions and analyses and are not binding. They do not constitute any recommendation for buying, selling, entering or exiting the stock market and cryptocurrency market. Also, all news and analyses included in the website and channels are merely republished information from official and unofficial domestic and foreign sources, and it is obvious that users of the said content are responsible for following up and ensuring the authenticity and accuracy of the materials. Therefore, while disclaiming responsibility, it is declared that the responsibility for any decision-making, action, and potential profit and loss in the capital market and cryptocurrency market lies with the trader.