Technically, the gold daily line closed with a cross star, and the competition between long and short positions was fierce. The gold price was still in a wide range of 3270/3200. At present, the latest MA10/7-day moving average of the daily chart opened and moved down to 3300/3280. The price was under pressure from the MA5-day moving average of 3268 and fluctuated weakly. The RSI indicator was in the middle axis 50 value adjustment! The short-term four-hour chart and the hourly chart moving average were glued together, and the price was near the middle track of the Bollinger band in the four-hour chart!
Gold rebounded again in the early trading, so gold continued to fluctuate. If gold fluctuates, then the high position will continue to be short, and wait for gold to move out of the fluctuation range before following the trend. If gold does not break through strongly and rise, then it will still fluctuate in the range. Now the bulls have not reversed. If gold still maintains strength today, then the gold bulls can regain confidence.
The gold 1-hour moving average continues to cross the downward short arrangement, and there is still room for gold shorts. Gold was under pressure at the 3270 line last week and fell back. Today, it rebounded and fluctuated near 3270 in the Asian session. Wait for shorting near resistance.
Key points:
First support: 3250, second support: 3237, third support: 3213
First resistance: 3285, second resistance: 3300, third resistance: 3315
Operation ideas:
Buy: 3240-3245, SL: 3230, TP: 3270-3280;
Sell: 3285-3290, SL: 3300, TP: 3250-3240;
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Gold rebounded again in the early trading, so gold continued to fluctuate. If gold fluctuates, then the high position will continue to be short, and wait for gold to move out of the fluctuation range before following the trend. If gold does not break through strongly and rise, then it will still fluctuate in the range. Now the bulls have not reversed. If gold still maintains strength today, then the gold bulls can regain confidence.
The gold 1-hour moving average continues to cross the downward short arrangement, and there is still room for gold shorts. Gold was under pressure at the 3270 line last week and fell back. Today, it rebounded and fluctuated near 3270 in the Asian session. Wait for shorting near resistance.
Key points:
First support: 3250, second support: 3237, third support: 3213
First resistance: 3285, second resistance: 3300, third resistance: 3315
Operation ideas:
Buy: 3240-3245, SL: 3230, TP: 3270-3280;
Sell: 3285-3290, SL: 3300, TP: 3250-3240;
For more free sharing, click on my avatar to view
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🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.