The market's D frame continues to maintain a fixed price range, with a dispute between buyers and sellers in the range of 3345 and 3275.
With the sideways wave in recent days, the possibility of creating a Dow and decreasing the price of Gold will be higher than increasing to ATH slightly. Gold has just reacted from 3000 candle wick area yesterday, which is also the old breakout area. Gold can push up to 3324 in the European session. If it does not break 3324, it is possible to SELL Gold to 3275. However, the sideways waves may have a relatively strong reaction around 3288 and the reaction area of 3300 is also weak but still need attention. If it breaks through 3324, Gold will find daily resistance around 3340 for the SELL strategy.
With the sideways wave in recent days, the possibility of creating a Dow and decreasing the price of Gold will be higher than increasing to ATH slightly. Gold has just reacted from 3000 candle wick area yesterday, which is also the old breakout area. Gold can push up to 3324 in the European session. If it does not break 3324, it is possible to SELL Gold to 3275. However, the sideways waves may have a relatively strong reaction around 3288 and the reaction area of 3300 is also weak but still need attention. If it breaks through 3324, Gold will find daily resistance around 3340 for the SELL strategy.
Trade active
Gold extends losses below $3,250 on trade deal optimism
Gold price extends the decline below $3,250 in the Asian session on Thursday. The precious metal edges lower to near a two-week low amid hopes of the US reaching trade deals with India, Japan and South Korea amid some progress on the US-Sino trade front, which boosts the US Dollar further.
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