Alan Solarsh and contributors analyze gold's 4-hour chart, noting doji formations and a breach below key moving averages that suggest weakening momentum. With the FOMC expected to hold rates steady and oil at $74 per barrel, institutional money may flow from gold into dollars, pressuring prices lower.
All right everybody, good morning. Oh, it's afternoon already.
So second candle has opened below the 8 EMA on the 4-hour chart over there. Got dojis as well, so looks like the momentum of the bull run is over.
We've also got over here this gap up, so market efficiency tells us that there has to be a retracement to fill this gap over here. Sometimes it doesn't get filled, but more often than none, it gets filled. So that's probably what's going to happen.
So I've hedged my account because the second candle is open below the 80 EMA, and we'll have to wait and see what's going on.
So the war is still on. Trump has given them a 60-day—
like, 60 days to respond to the MOU. That they have to comply with the demands. And I don't think that Iran's going to comply and I don't think America's going to back down. So I think that the war's going to resume. That's just my opinion. And they're still gung-ho in destroying Israel. Israel is a close ally of America and it's much smaller, so it needs to be controlled. It's like they're being bullied. Mm-hmm. So Hezbollah is still shooting missiles from Lebanon into Israel, and America's going to have to do something about it. So that's what's happening. I think we still need to be very cautious here. Although ships are flowing, oil is down to $74. Tomorrow's, that's today, is FOMC. I don't think anything's gonna happen. I don't think the rates are gonna be reduced. I think they're going to remain sticky. They can't reduce the rates. The dot plot is saying that 97% of the governors are voting that the interest rate remain the same. So I don't think that it's going to reduce. And for that reason, gold also may tank because the institutions want to earn interest from putting their money into the banks and earning that interest rather than putting it into gold. So it just makes sense that they're going to pull their money out of other assets and put it into dollars, 'cause they're earning an interest there. So I think that's what's happening. I think we still need to be very cautious, and we'll go from there.
So I'll see you on the groups. Cheers. Cheers.
Double bottom forming - Gold ready for $4000 #trading #technicalanalysis #xauusd
