Gold technical analysis
Daily chart resistance 3080, support below 2950
Four-hour chart resistance 3050, support below 2970
One-hour chart resistance 3035, support below 3010.
The global stock market crash has triggered a large amount of funds to sell gold to cover stock market positions, but the central bank's demand for gold purchases (such as China's increase in gold holdings in March) provides long-term support. If the panic in the stock market eases and funds flow back to the gold market, it may push the gold price to rebound to $3050-3070. If the DXY index rises or the US stock market is sold more violently, the gold price may fall to the support band of $2950-2970.
Technical short-term bearish but need to guard against rebounds after oversold, pay close attention to US stock market fluctuations and geopolitical events, if panic escalates, it may trigger a simultaneous decline in gold and the stock market
Sell: 3040 SL: 3045
Sell: 2980 SL: 2985
Daily chart resistance 3080, support below 2950
Four-hour chart resistance 3050, support below 2970
One-hour chart resistance 3035, support below 3010.
The global stock market crash has triggered a large amount of funds to sell gold to cover stock market positions, but the central bank's demand for gold purchases (such as China's increase in gold holdings in March) provides long-term support. If the panic in the stock market eases and funds flow back to the gold market, it may push the gold price to rebound to $3050-3070. If the DXY index rises or the US stock market is sold more violently, the gold price may fall to the support band of $2950-2970.
Technical short-term bearish but need to guard against rebounds after oversold, pay close attention to US stock market fluctuations and geopolitical events, if panic escalates, it may trigger a simultaneous decline in gold and the stock market
Sell: 3040 SL: 3045
Sell: 2980 SL: 2985
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The Fed's policy expectations and the international trade war are dominating the market. After stabilizing at $3050, the next target is $3070, and the second target is $3100. It has risen by nearly $100 from the Asian session low of $2970. You can wait but don't sell easily. Install SL for every transaction! If you fight against the market and don't install stop loss, you will be liquidated.Note
Gold technical analysisFour-hour chart resistance 3155, support below 3080
One-hour chart resistance 3150, support below 3080.
If CPI is lower than expected: it may rebound to 3150-3170, and look to 3180 US dollars after breaking through.
If CPI is higher than expected: it may accelerate to 3070-3080, and even trigger long stop-loss selling, falling to 3050.
CPI data dominates intraday fluctuations today. If it breaks through and stabilizes at 3135, the next target is 3150-3170;
If the data is negative, it is necessary to pay attention to the effectiveness of the support of 3070-3080 US dollars, and look to 3050 after breaking through.
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
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.