13 July,2023 U.S. session #XAUUSD #GOLD #SILVER #TRADING #GOINVESTER
Gold and silver both traded in a no-trade zone in the Asia session today, as traders waited for the release of the PPI data from the US later today. The PPI data is a measure of the prices of goods and services at the producer level, and it is often seen as a leading indicator of inflation.
Gold
Entry: 1962 levels if the price breaks above 1965.
Exit: 1955 levels if the price breaks below 1950.
Exit: 1945 or 1940 levels if the price breaks below 1940.
Silver
Entry: 2430 levels if the price breaks above 2450.
Exit: 2410 levels if the price breaks below 2400.
Exit: 2380 or lower levels if the price breaks below 2380.
It is important to note that these are just entry and exit levels, and they are not guarantees of profit. Traders should always do their own research before making any trades.
If the PPI data comes in higher than expected, it could lead to a sell-off in gold and silver, as investors would be concerned about the impact of higher inflation on the economy.
However, if the PPI data comes in lower than expected, it could lead to a rally in gold and silver, as investors would be relieved that inflation is not as high as feared.
The author of the article provides entry and exit levels for both gold and silver, based on his technical analysis of the charts.
For gold, the author suggests buying at 1962 levels if the price breaks above 1965. If the price breaks above 1970, the author suggests buying at 1973-1976 levels. For silver, the author suggests buying at 2430 levels if the price breaks above 2450.
If the price breaks above 2475, the author suggests buying at 2475-2500 levels.
Also discusses the potential volatility that could be caused by the PPI data.
He notes that the PPI data is often volatile, and that it could lead to sharp moves in the gold and silver markets.
As such, traders should be prepared to take advantage of any opportunities that arise, but they should also be aware of the risks involved.
The article concludes by urging traders to do their own research before making any trades.
The author notes that the technical analysis he provides is just one tool that traders can use to make trading decisions. Traders should also consider other factors, such as fundamental analysis, before making any trades.
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