Gold price is neutral to downwardly biased as the bearish Head-and-Shoulders chart <wbr>pattern remains in play. Although the yellow metal achieved a leg up in the near term, momentum favors sellers, which can be seen by the Relative Strength Index (RSI).
If XAU/USD drops below $2,300, the next support would be the May 3 low of $2,277, followed by the March 21 high of $2,222. Further losses lie beneath as sellers would eye the Head-and-Shoulders chart pattern objective from $2,170 to $2,160.
Conversely, if Gold extends its gains past $2,350, key resistance levels emerge like the June 7 cycle high of $2,387, ahead of challenging the $2,400 figure.
DOW JONES INDUSTRIAL AVERAGE DIGS IN HEELS AND TRADES FLAT DESPITE RETAIL SALES MISS
- Dow Jones holding onto familiar levels with US markets set for mid-week break.
- US Retail Sales missed the mark on Tuesday, raising economic activity concerns.
- Investors are putting in double-duty trying to brush off Fed caution.
The Dow Jones Industrial Average (DJIA) is treading water on Tuesday as investors buckle down for the mid-week Juneteenth holiday. US Retail Sales missed the mark in May, and Federal Reserve (Fed) officials have been working double duty on Tuesday to try and tamp down broad-market expectations for an upcoming rate cut that may not materialize as policymakers await further signs of easing inflation.
US Retail Sales grew by a scant 0.1% MoM in May, missing the forecast 0.2%. The previous month’s print was also revised down to -0.2% from 0.0%. Core Retail Sales, or Retail Sales excluding automobiles, declined 0.1% and missing the forecast growth of 0.2%, with the previous release also getting revised to -0.1% from 0.2%.
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發