Gold ended its continuous rise. The daily chart was blocked and fell back, falling to 3100. Technically, the gold price is still above 3078/3095 of MA7 and 5-day moving average. At the same time, MA10/7-day moving average still remains open upward, and the price is running on the upper track of the Bollinger Band.
The short-term four-hour moving average narrowed, and the price was running near the MA10-day moving average at 3123. The price retreated to the middle track of the Bollinger Band at 3101/3104. The RSI indicator turned downward after touching the overbought value above 80 yesterday. The hourly moving average is glued together, and the price returns to the middle and lower tracks of the Bollinger Band. Gold is expected to continue to expand its operating range during the day. It is recommended to buy at a low level after the correction and be cautious in chasing the rise. Consider selling after the key resistance level or historical high.
Once Trump's tariff policy is implemented, pay attention to the high and low prices in the gold and silver market, which may usher in a substantial downward adjustment. On the contrary, if Trump continues to announce new tariff policies on the basis of the original tariff policy, gold needs to pay attention to triggering risk aversion and causing a sharp rise or a record high again.
Gold surged higher in the US market yesterday and is stagnant. Bulls are under short-term pressure and may enter an adjustment cycle. In the short-term, gold is expected to fall and adjust! Yesterday, gold rose first and then fell, rising to 3149 and then falling. The European market fluctuated narrowly. From the technical indicators, the 2-hour moving average has formed a dead cross, MACD dead cross and large volume, and the Bollinger band closed. The US market continued to decline after the shock, and currently fell below the 3120 intraday watershed. In the short term, it means that the bulls have temporarily come to an end and started to retrace and adjust.
After yesterday's retracement, today's Asian market quickly rose to 3135.7. With the increase in volume on the hourly chart, it corrected the decline with 3150 as the high point. The fluctuation range was large and the adjustment speed was fast. The current position is too risky to chase the rise. Although shorting is against the trend, the implementation of technically overbought tariffs will also be realized, and there will be more room for profit-taking and downward adjustments. Buying and selling opportunities coexist.
Key points:
First support: 3115, second support: 3102, third support: 3093
First resistance: 3138, second resistance: 3150, third resistance: 3200
Operation ideas:
Buy; 3110-3113, SL: 3102, TP: 3140-3150;
Sell; 3143-3145, stop SL: 3154, TP: 3120-3110;
The short-term four-hour moving average narrowed, and the price was running near the MA10-day moving average at 3123. The price retreated to the middle track of the Bollinger Band at 3101/3104. The RSI indicator turned downward after touching the overbought value above 80 yesterday. The hourly moving average is glued together, and the price returns to the middle and lower tracks of the Bollinger Band. Gold is expected to continue to expand its operating range during the day. It is recommended to buy at a low level after the correction and be cautious in chasing the rise. Consider selling after the key resistance level or historical high.
Once Trump's tariff policy is implemented, pay attention to the high and low prices in the gold and silver market, which may usher in a substantial downward adjustment. On the contrary, if Trump continues to announce new tariff policies on the basis of the original tariff policy, gold needs to pay attention to triggering risk aversion and causing a sharp rise or a record high again.
Gold surged higher in the US market yesterday and is stagnant. Bulls are under short-term pressure and may enter an adjustment cycle. In the short-term, gold is expected to fall and adjust! Yesterday, gold rose first and then fell, rising to 3149 and then falling. The European market fluctuated narrowly. From the technical indicators, the 2-hour moving average has formed a dead cross, MACD dead cross and large volume, and the Bollinger band closed. The US market continued to decline after the shock, and currently fell below the 3120 intraday watershed. In the short term, it means that the bulls have temporarily come to an end and started to retrace and adjust.
After yesterday's retracement, today's Asian market quickly rose to 3135.7. With the increase in volume on the hourly chart, it corrected the decline with 3150 as the high point. The fluctuation range was large and the adjustment speed was fast. The current position is too risky to chase the rise. Although shorting is against the trend, the implementation of technically overbought tariffs will also be realized, and there will be more room for profit-taking and downward adjustments. Buying and selling opportunities coexist.
Key points:
First support: 3115, second support: 3102, third support: 3093
First resistance: 3138, second resistance: 3150, third resistance: 3200
Operation ideas:
Buy; 3110-3113, SL: 3102, TP: 3140-3150;
Sell; 3143-3145, stop SL: 3154, TP: 3120-3110;
Trade active
If you follow today's free sharing, buy at 3110, now at 3127, profit 170pips
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Disclaimer
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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.