The monthly chart of gold is in an upward trend, and the long-term trend is neutral and upward; the weekly chart has a high shooting star, and the medium-term trend is expected to fall; the daily chart failed to hit the previous high and ran downward, and the short-term trend is expected to fall; the intraday short-term broke through the 3248 suppression and continued upward, and the short-term stopped falling. So far, the market has been repeatedly sorted above the 3215 area, and the short-term shorts slowed down and showed signs of stopping falling! Note that if the one-hour closing today breaks above the 3348 area, then the shorts should be careful, and there is a high probability that the market will bottom out and reverse, that is, a new round of band bulls will start! At that time, everyone can directly choose the opportunity to buy the bottom! From the 4-hour chart of gold: At this time, the short-term 5-day is expected to cross the 10-day, then above 3240 will become a certain support performance, and the key strong support is still the annual average line moving up to 3200; one resistance is the big Yin high point in front of 3290, which is also the dividing pressure, and the strong pressure is the middle track 3293, or close to the 3300 mark; pay attention to the gains and losses between support and resistance. On the whole, the short-term operation suggestion for gold is to do more on pullbacks and short on rebounds. The short-term focus on the upper side is the 3270-3290 line of resistance, and the short-term focus on the lower side is the 3215-3225 line of support.
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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.