Breakthrough in early July 2024! XAU fluctuates

✍️ NOVA hello everyone, Let's comment on gold price next week from 7/1 - 7/5/2024

🔥 World situation:
Gold prices fell on Friday due to a promising inflation report that suggested potential interest rate cuts from the Federal Reserve in 2024. Despite reaching a four-day high of $2,339, gold ended at $2,324, a 0.12% decrease. The US PCE Price Index report for May triggered these fluctuations, indicating a favorable future for consumers affected by price increases.

🔥 Identify:
Gold price sideways accumulated for most of June 2024 from 2300 - 2365, expecting a breakthrough in early July with a recovery for Gold.

🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2351, $2387
Support : $2317, $2297, $2270


🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest