Markets went into a tailspin after hot US inflation data renewed fears over global economic slowdown, as the data bolstered the Fed’s tightening expectations. Aggressive Fed’s rate hike outlook, China’s covid lockdowns and the Ukraine crisis threatened a likely recession, fuelling a classic risk-off market profile. ‘Sell everything’ mode remained in vogue, as investors trusted the only safety net in the dollar to protect their capital. The tech stocks-led rebound in Wall Street indices also failed to calm nerves, keeping the dollar dominance intact at gold’s expense.
M15S5 achieved
M30 S5 H1 S5 ahead
M1 M5 M15 M30 236 RT achieved
A sudden crash was observed today, and we indicated a total $100++ rally on 22 March, for 12 May – 13 May (PROOF). Those who paid attention, am sure escaped huge losses and made handsome profits. (Proof of Analysis dated 04 May, 2022)
I booked net loss of 1700 out of 3600 profit booked yesterday
Reason: Net Average Profit.
During high volatility event, I always prefer to protect principle and trade with minimum lot size to keep margin levels high.
In addition, today being Friday, a sudden crash or rise cannot be ruled out considering the ongoing market conditions.
A liquidity vacuum is dragging all assets lower, leaving gold to circle the drain in defiance of its safe-haven status, despite the fierce rally in Treasuries.
On the US dollar front, the US dollar index (DXY) has renewed its 19-year high at 104.93 after the US Bureau of Labor Statistics reported the yearly US PPI at 11%, higher than the forecasts of 10.7%
With CTA trend followers joining into the liquidation party, substantial selling flow continues to weigh on the yellow metal at a time when liquidity is scarce. Prices are now struggling to hold onto the bull-market-era defining uptrend in the yellow metal under the pressure of this selling flow.
We alerted 1836-1818 zone in advance on 06 May, 2022
Read the complete analysis here: https://bit.ly/06MayPRGoldAnalysisNFP