Gold's daily line has peaked and is expected to fall back adjust
Last week, gold rose more than a cumulative 2.57%, setting a new high. It broke through the 3,000 mark for the first time in history, which was considered strong. However, it then fell back and closed at around 2,984. Due to the increase in tariff uncertainty, the market bet that the Federal Reserve will relax monetary policy, and as geopolitical tensions intensify, investors have flocked to safe-haven assets, making gold attractive. However, the energy of gold's early opening is already very weak. Although the 1H candle chart shows a positive trend, the actual increase is only a few dollars, which precipitates the events of the two days over the weekend. Gold's opening is still tepid, which is undoubtedly a negative situation for the market.
In the short term, gold has peaked signals, at least the evening star is obvious, and the gold price has seriously deviated from the moving average. There are signs of a large negative line entity engulfing the Yang line under 4H, directly sinking the support line. It is obviously a strong bearish engulfment. This is why I don’t support everyone’s pursuit of bulls at high levels. Therefore, today's overall market tends to fall first and then rise! ! From the golden hour chart, we can pay attention to the upward trend line support level near 2980 on the hour chart. If gold falls back below 2980, it will further look down to the area around 2955-2945.
Many friends who have read my posts have reported that my trading ideas and strategies are very helpful to them. I always firmly believe that profitability is the criterion for measuring strength, and seizing the opportunity is the key to victory. I will post every day to share my trading strategies and ideas for free. If you have just entered the market and don’t know how to make more profits, if you are already in it but the harvest is not ideal, then you might consider taking a look at my profile.
In the short term, gold has peaked signals, at least the evening star is obvious, and the gold price has seriously deviated from the moving average. There are signs of a large negative line entity engulfing the Yang line under 4H, directly sinking the support line. It is obviously a strong bearish engulfment. This is why I don’t support everyone’s pursuit of bulls at high levels. Therefore, today's overall market tends to fall first and then rise! ! From the golden hour chart, we can pay attention to the upward trend line support level near 2980 on the hour chart. If gold falls back below 2980, it will further look down to the area around 2955-2945.
Many friends who have read my posts have reported that my trading ideas and strategies are very helpful to them. I always firmly believe that profitability is the criterion for measuring strength, and seizing the opportunity is the key to victory. I will post every day to share my trading strategies and ideas for free. If you have just entered the market and don’t know how to make more profits, if you are already in it but the harvest is not ideal, then you might consider taking a look at my profile.
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The daily trend of gold has emerged from the evening star, and the technical level shows a signal of peaking. The strong upward trend has been pressed on the pause button. Today's market is expected to peak and fall! In the short-term during the day, we mainly focus on the pressure of the 3000 mark to make short-selling arrangements! But it is worth noting that the general direction is still long, and short selling is only based on callbacks!
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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.