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“THE TECHNICAL VIEW SIGNS DOWN”
Gold Price Analysis Prepared by ÜNLÜ & Co / DAHA: “In addition to the ISM Manufacturing Index showing a stronger picture than expected at the beginning of the week, the weekly Unemployment Pension claims announced in the US by below the 1 million limit increased the pressure on gold prices, while prices We believe that the technical outlook below the ounce continues to give signals to the downside in parallel with the movement by making downturns. of $ 1930 as a risk zone, we believe that especially the figures below $ 1900 may indicate a clear breakout. “
“DEPENDING ON WHICH THE LEVEL OF 456 LIRA IS BROKEN TO RETURN THE EXPECTATION OF THE NEGATIVE PATH”
Gold price analysis prepared by GCM Kaan Kutsar assistant investment analyst: Gram Gold, which opened around the 463.00 level when we closed August and started the week in September, despite the falling price of an ounce of gold during the week, supported by the upward movement of the USDTRY parity, registered a limiting view. The precious metal per gram is trading around the 465.00 level at the time of analysis. Next week’s Turkey employment data, European Central Bank monetary policy statement, US PPI and CPI data can be followed due to potential effects. For detailed information on the macro agenda, you can review the “Market path” section in the newsletter. When we examine Gram Gold technically, we follow the 456.00 level supported by the 21-period exponential moving average (457.18). As long as the 456.00 level limits prices to the downside, a positive expectation may be in the foreground. If the uptrend continues, a range of movement up to 465.00 may occur. If the 465.00 level is exceeded, prices towards the 469.00 and 478.50 levels may be in doubt. If bullish movements are under pressure at the 465.00 level, there may be pullbacks towards the 456.00 level. Upward reactions can be seen from this level, as possible declines are limited to the 456.00 level. Therefore, to consolidate the negative expectation, it may be necessary to break the level of 456.00 and form daily closes below the level of 456.00. The levels that can be found in this case have been noted as 450.00 – 443.00 – 435.00 – 427.50 and 420.00. At this stage, the 450.00 level can limit prices downward. Even if such a pullback occurs, the underlying positive trend may continue as the price moves above the 420.00 level, supported by the 75- and 89-period exponential moving averages. In short, as long as the price moves above the 456.00 level, the positive expectation can be in the foreground. Key level (s) for the week: 456.00 zone
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