For gold today, the gold surged and then fell, breaking the pattern of the morning cycle of rise, which means that this wave of unilateral rise from 3211 to 3357 can temporarily come to an end. This time the whole increase was as high as 146 US dollars, and there was no correction throughout the whole process. This kind of extreme market situation is rare in history. The bold ones will die of overeating and the timid ones will starve to death. It is very suitable for novices who have just entered the market. Blindly chasing more will have a miraculous effect, which is the so-called novice protection period.
As the market will be closed tomorrow for Easter, gold is destined not to rise like yesterday, but will enter a period of shock correction. The decline from 3357-3320 reached 37 US dollars, so focus on the pressure of 3342 and try to participate in the short position to see the decline. The strong pressure is at the high point of 3356-3357. If it does not break the high during the day, gold can still be shorted; the support below is 3320-3305. If it touches 3305, you can go long to see the rebound.
As the market will be closed tomorrow for Easter, gold is destined not to rise like yesterday, but will enter a period of shock correction. The decline from 3357-3320 reached 37 US dollars, so focus on the pressure of 3342 and try to participate in the short position to see the decline. The strong pressure is at the high point of 3356-3357. If it does not break the high during the day, gold can still be shorted; the support below is 3320-3305. If it touches 3305, you can go long to see the rebound.
Trade active
Try long positions above 3300 with a stop loss of 3285; Steady strategy: intervene after confirming that 3312 support is effective, and wait and see if it breaks below 3293. The market is changing rapidly, click the link to get accurate trading signals
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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.