Gold has slightly risen and fallen back during the day, and the overall trend remains in a volatile trend. Gold is currently maintaining a narrow range of fluctuations on the daily trend, but the short-term moving average has begun to gradually diverge downward, and there are signs of weakening in the short term on the daily line. The 4-hour level trend is temporarily maintained in a volatile state, and the price is temporarily compressed between 3010-3038!
It is necessary to pay attention to the continued downward trend after a small break in the 4-hour level trend. In the small-level cycle trend, after touching the previous support band, there are signs of stabilization. Pay attention to the short-term adjustment.
From the overall situation, gold is definitely in the bull market stage. At present, there is strong buying defense at the 3000 mark, and the "W" double bottom has appeared below. If it successfully breaks through the 3035 watershed, it is expected to test the pressure near 3045 and the historical high of 3057. Now the low point of the callback begins to move up slowly, showing a small upward trend. Note that if 3038 breaks and stabilizes, it may continue to break upward in the short term. Follow the trend after the break!
Key points:
First support: 3016, second support: 3008, third support: 2993
First resistance: 3030, second resistance: 3038, third resistance: 3046
Operation ideas:
3010-3013, SL: 3002, TP: 3025-3035;
3036-3038, SL: 3049, TP: 3018-3010;
It is necessary to pay attention to the continued downward trend after a small break in the 4-hour level trend. In the small-level cycle trend, after touching the previous support band, there are signs of stabilization. Pay attention to the short-term adjustment.
From the overall situation, gold is definitely in the bull market stage. At present, there is strong buying defense at the 3000 mark, and the "W" double bottom has appeared below. If it successfully breaks through the 3035 watershed, it is expected to test the pressure near 3045 and the historical high of 3057. Now the low point of the callback begins to move up slowly, showing a small upward trend. Note that if 3038 breaks and stabilizes, it may continue to break upward in the short term. Follow the trend after the break!
Key points:
First support: 3016, second support: 3008, third support: 2993
First resistance: 3030, second resistance: 3038, third resistance: 3046
Operation ideas:
3010-3013, SL: 3002, TP: 3025-3035;
3036-3038, SL: 3049, TP: 3018-3010;
Trade active
Sell to take a profit of 50pips. Close part, please set BE, now the rising momentum is strong and may continue to rise💥 Trade closed manually
It fluctuates at a high level before NY time, and there are opportunities for both buying and selling. Note
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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.