Gold barely held the 3360 level on Wednesday and will remain in the 3360-3380 consolidation range outlined by Quaid.
Quaid considers Thursday to be a more important day. From a timing perspective, today may impact whether gold can continue its upward trend. However, it is possible that the market could continue its consolidation today. One thing is that the daily line must close above 3360, then the subsequent rise in gold will continue.
On the contrary, if it closes below 3360, then the rise will definitely not be able to continue in the short term. In the short term, gold may remain above 3370 today.
We can see that 3375-3370 is an important support, but the daily line has not yet stabilized above 3380, so the upward space has not yet been opened. If the daily chart can stabilize above 3380, then a test of 3400-3410 is in the cards.
Trading strategy:
Buy between 3365-3370, stop loss at 3355, profit range 3380-3390-3400.
Quaid considers Thursday to be a more important day. From a timing perspective, today may impact whether gold can continue its upward trend. However, it is possible that the market could continue its consolidation today. One thing is that the daily line must close above 3360, then the subsequent rise in gold will continue.
On the contrary, if it closes below 3360, then the rise will definitely not be able to continue in the short term. In the short term, gold may remain above 3370 today.
We can see that 3375-3370 is an important support, but the daily line has not yet stabilized above 3380, so the upward space has not yet been opened. If the daily chart can stabilize above 3380, then a test of 3400-3410 is in the cards.
Trading strategy:
Buy between 3365-3370, stop loss at 3355, profit range 3380-3390-3400.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
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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.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
Related publications
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.