From the daily level, gold saw long profit taking at the 3500 mark, and the price retreated to 3260 at its lowest. Due to the increasing uncertainty of the market on tariffs, the market has seen a wide range of consolidation. From a technical perspective, the market will only strengthen again if it breaks through 3385 and stabilizes, and the adjustment space will be further expanded if it breaks below 3260!
From the 4-hour level, after the sharp drop of 3500-3260, the current market is under pressure and fluctuates below the middle track, with a range of 3370-3260 US dollars. At present, the Bollinger Bands continue to close, and the short-term market continues to maintain the range consolidation until the Bollinger Bands expand again and choose a new direction. Before the range is broken, you can sell high and buy low, and try to sell at high levels. If it breaks, choose to follow the trend.
Gold fell 70$ from its high in the Asian session. In terms of market sentiment, investors are emotionally complex, and some investors have profit-taking behavior, which led to a decline in the situation where gold opened high. From a short-term perspective, the strength of gold bulls is not very strong. Although gold opened higher on Monday for safe-haven trading over the weekend, it quickly fell back, indicating that gold bulls are not very confident at present. Gold short-term is still dominated by shorts.
The gold 1-hour moving average is still in a dead cross short arrangement, but if gold does not fall for a long time, then the gold 1-hour moving average may begin to turn upward, and the strength of gold shorts will decrease. Gold began to fall under pressure after 3336 in the Asian session, so gold will still be under pressure below 3336 during the day. If it breaks through 3336 strongly, then gold may start to rise in the short term, then we will adjust our thinking.
Key points:
First support: 3274, second support: 3260, third support: 3243
First resistance: 3325, second resistance: 3336, third resistance: 3358
Operation ideas:
Buy: 3260-3263, SL: 3252, TP: 3280-3290;
Sell: 3330-3333, SL: 3342, TP: 3310-3300;
From the 4-hour level, after the sharp drop of 3500-3260, the current market is under pressure and fluctuates below the middle track, with a range of 3370-3260 US dollars. At present, the Bollinger Bands continue to close, and the short-term market continues to maintain the range consolidation until the Bollinger Bands expand again and choose a new direction. Before the range is broken, you can sell high and buy low, and try to sell at high levels. If it breaks, choose to follow the trend.
Gold fell 70$ from its high in the Asian session. In terms of market sentiment, investors are emotionally complex, and some investors have profit-taking behavior, which led to a decline in the situation where gold opened high. From a short-term perspective, the strength of gold bulls is not very strong. Although gold opened higher on Monday for safe-haven trading over the weekend, it quickly fell back, indicating that gold bulls are not very confident at present. Gold short-term is still dominated by shorts.
The gold 1-hour moving average is still in a dead cross short arrangement, but if gold does not fall for a long time, then the gold 1-hour moving average may begin to turn upward, and the strength of gold shorts will decrease. Gold began to fall under pressure after 3336 in the Asian session, so gold will still be under pressure below 3336 during the day. If it breaks through 3336 strongly, then gold may start to rise in the short term, then we will adjust our thinking.
Key points:
First support: 3274, second support: 3260, third support: 3243
First resistance: 3325, second resistance: 3336, third resistance: 3358
Operation ideas:
Buy: 3260-3263, SL: 3252, TP: 3280-3290;
Sell: 3330-3333, SL: 3342, TP: 3310-3300;
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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.