On the daily chart, gold started the downward adjustment mode on Tuesday, breaking the previous continuous rise in one fell swoop. However, the current moving average system still maintains an upward divergent shape. The 4-hour chart of gold maintains a high range of fluctuations. At present, the short-term moving average is basically in a state of adhesion and flattening. It is highly likely to continue to maintain a high-level oscillation trend during the day.
The 1-hour moving average of gold is still golden cross upward, with a bullish divergent arrangement. Although gold fell below the moving average support yesterday, the strength of gold bulls to bottom out and rebound is still relatively strong, and coupled with the support of gold safe-haven, the bulls will eventually dominate. As long as it does not fall below 3100, it will continue to be strongly bullish.
After the announcement of the tariff policy, the risk aversion sentiment of gold has escalated, and gold has broken upward again. Then the previous resistance of gold has now become support again. The previous platform support of gold, 3135, has broken upward, so gold has now formed support at 3135. Gold will continue to buy in the Asian session. After the sideways fluctuation, gold bulls once again exerted their strength under the stimulation of risk aversion, so they will continue to trade with the trend.
Gold's 1-hour moving average turned upward again, and the bulls regained control of the main field. If gold falls back to the previous platform support of 3135 in the Asian session, it can continue to buy on dips. Now the risk aversion sentiment stimulates the rise of gold. Don't chase the highs directly for the time being, and wait patiently for opportunities after the decline.
Key points:
First support: 3140, second support: 3133, third support: 3120
First resistance: 3166, second resistance: 3174, third resistance: 3187
Operation ideas:
Buy: 3132-3135, SL: 3124, TP: 3150-3160;
Sell: 3174-3177, SL: 3185, TP: 3150-3140;
The 1-hour moving average of gold is still golden cross upward, with a bullish divergent arrangement. Although gold fell below the moving average support yesterday, the strength of gold bulls to bottom out and rebound is still relatively strong, and coupled with the support of gold safe-haven, the bulls will eventually dominate. As long as it does not fall below 3100, it will continue to be strongly bullish.
After the announcement of the tariff policy, the risk aversion sentiment of gold has escalated, and gold has broken upward again. Then the previous resistance of gold has now become support again. The previous platform support of gold, 3135, has broken upward, so gold has now formed support at 3135. Gold will continue to buy in the Asian session. After the sideways fluctuation, gold bulls once again exerted their strength under the stimulation of risk aversion, so they will continue to trade with the trend.
Gold's 1-hour moving average turned upward again, and the bulls regained control of the main field. If gold falls back to the previous platform support of 3135 in the Asian session, it can continue to buy on dips. Now the risk aversion sentiment stimulates the rise of gold. Don't chase the highs directly for the time being, and wait patiently for opportunities after the decline.
Key points:
First support: 3140, second support: 3133, third support: 3120
First resistance: 3166, second resistance: 3174, third resistance: 3187
Operation ideas:
Buy: 3132-3135, SL: 3124, TP: 3150-3160;
Sell: 3174-3177, SL: 3185, TP: 3150-3140;
Trade active
First, 3134 enters the previous support platform, which may rise or fall. The safe strategy is to wait.If the 1-hour chart falls below $3130, we can continue to sell.
If it stabilizes around 3130, look for opportunities to buy.
Wait for the signal update. Follow the trend
Trade closed manually
As I just said, after the 1H chart falls below 3130, you need to change your strategy and continue to sell. Today's market fluctuates greatly and the risk is high. Please be careful that the market can change its trend at any time. I have sold for profit 
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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
Related publications
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.