XAUUSD: Buy at low price today, watch for rebound and rise
Updated
Gold rose strongly to around 2412 at the opening of the market this week. This is because Biden announced his withdrawal from the US presidential election, which led to the escalation of chaos in the election and caused market concerns.
After last week's decline, the shorts have been released. Today, I think there is a high probability of shock adjustment and rebound. This week, we need to pay attention to data such as PCE, PMI, and GDP. Before the data is released, there will basically be no large unilateral market.
Judging from this decline, the support strength near 2400 is not bad. We can make some short-term bullish signals around this line today. Pay attention to the pressure of 2420 and 2430 above. Pay attention to the support of 2390 and 2380 below.
After last week's decline, the shorts have been released. Today, I think there is a high probability of shock adjustment and rebound. This week, we need to pay attention to data such as PCE, PMI, and GDP. Before the data is released, there will basically be no large unilateral market.
Judging from this decline, the support strength near 2400 is not bad. We can make some short-term bullish signals around this line today. Pay attention to the pressure of 2420 and 2430 above. Pay attention to the support of 2390 and 2380 below.
Trade active
The buy price has been reached and I have entered the marketTrade active
The support for gold is still there, continue to hold the bullish positionTrade active
Gold continues its downward trend and has not rebounded. If the support of 2380 is broken, the downward space will open up further.Trade active
Gold has started to rebound. If it can close above 2400 points again today, it can continue to be bullish.
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.