Gold technical analysis
4-hour chart resistance level 3360, support level 3280
1-hour chart resistance level 3340, support level 3300
30-minute chart resistance level 3330, support level 3310.
In the 4-hour chart, MACD crosses below the zero axis, and KDJ diverges downward. If it stands firm at 3340, the short-term chart will trigger a larger correction. Now the downward trend has not changed.
Gold prices fell back below $3,400 on Thursday, the rally paused, and a sharp downward adjustment began.
The momentum depicted by the relative strength index (RSI) shows that buyers are losing momentum. This is negative for bulls, as a break below $3,300 could intensify the downward trend, perhaps towards the May 1 low of $3,202.
If the price of gold breaks through $3340, this may push the price back to 3370~3400! There is no important news data today, so the volatility of gold in the US market may weaken today, and you can sell high and sell low for the time being. Next week's U.S. CPI data will be a key variable in determining the next direction of gold prices. If inflation is higher than expected, it may once again ignite fluctuations in the gold market.
SELL: 3345 SL: 3350
BUY: 3305 SL: 3300
Trade cautiously and pay attention to the speech of Fed officials today
4-hour chart resistance level 3360, support level 3280
1-hour chart resistance level 3340, support level 3300
30-minute chart resistance level 3330, support level 3310.
In the 4-hour chart, MACD crosses below the zero axis, and KDJ diverges downward. If it stands firm at 3340, the short-term chart will trigger a larger correction. Now the downward trend has not changed.
Gold prices fell back below $3,400 on Thursday, the rally paused, and a sharp downward adjustment began.
The momentum depicted by the relative strength index (RSI) shows that buyers are losing momentum. This is negative for bulls, as a break below $3,300 could intensify the downward trend, perhaps towards the May 1 low of $3,202.
If the price of gold breaks through $3340, this may push the price back to 3370~3400! There is no important news data today, so the volatility of gold in the US market may weaken today, and you can sell high and sell low for the time being. Next week's U.S. CPI data will be a key variable in determining the next direction of gold prices. If inflation is higher than expected, it may once again ignite fluctuations in the gold market.
SELL: 3345 SL: 3350
BUY: 3305 SL: 3300
Trade cautiously and pay attention to the speech of Fed officials today
💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
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.
💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
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.