5.9 Gold is difficult to break through the top
Due to the increasing tension in the international situation, the overall trend and direction of gold will not change. However, due to the recent news from all sides, the price of gold has fluctuated greatly, which confuses many people and makes it difficult to judge whether the market is bullish or bearish. We must know that the market is changing rapidly and trading requires flexibility. We must remember to control positions, set stop losses strictly, do not resist orders, and wait patiently for opportunities.
The market has now fallen to the downward channel (A) and may continue to fall. However, the weekend is coming, some short positions may be closed, and the market may also enter the parallel channel (B).
Currently bearish, not bullish, the upper resistance level is 3330/3360. It is difficult to break through 3360 to form a new top in the short term.
SELL: 3320
SL: 3330
TP: 3290-3260
Thank you for your attention, I hope my analysis can help you.
Due to the increasing tension in the international situation, the overall trend and direction of gold will not change. However, due to the recent news from all sides, the price of gold has fluctuated greatly, which confuses many people and makes it difficult to judge whether the market is bullish or bearish. We must know that the market is changing rapidly and trading requires flexibility. We must remember to control positions, set stop losses strictly, do not resist orders, and wait patiently for opportunities.
The market has now fallen to the downward channel (A) and may continue to fall. However, the weekend is coming, some short positions may be closed, and the market may also enter the parallel channel (B).
Currently bearish, not bullish, the upper resistance level is 3330/3360. It is difficult to break through 3360 to form a new top in the short term.
SELL: 3320
SL: 3330
TP: 3290-3260
Thank you for your attention, I hope my analysis can help you.
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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.
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.