📊Gold surged higher and fell back in early trading today. The overall fluctuation space is large. It fell from the high point of 3438 to the current near 3360, with an amplitude close to $78. There is an obvious long-short transition in the short term. The subsequent trend needs to focus on whether the direction choice continues.
📊From the perspective of the 4-hour cycle, gold formed a substantial negative line yesterday evening and fell directly below the support of the 5-day and 10-day moving averages. Technically, it is possible for further declines. At present, the middle track of the Bollinger Band is near 3300. If the short-selling momentum continues, this will become the primary support level below. However, if the price stops falling and stabilizes in this area, and maintains a high-level oscillation pattern, it is still possible to test the previous high of 3430 again. Therefore, the current market is in a stage where the direction is unclear, and there is a possibility of both rising and falling space, which needs to be flexibly responded to in combination with short-term performance.
📊From the perspective of hours and smaller cycles, the price in the morning is weak and corrected. At present, the focus is on the effectiveness of the 3360-3350 support. If the support in this area is effective, there is still hope for a short-term rebound, with the target first at 3400. If the momentum is strong, it is expected to challenge 3430; on the contrary, if it falls below 3350, the market is likely to further fall back to 3300.
🔴Upper resistance level: 3400-3405 range
🔰If the price rebounds to this area and is blocked, consider light positions to arrange short orders.
🟢Lower support level 1: 3350-3360 range
🟢Lower support level 2: 3330-3300 range
🔰If the price touches the support and stops falling, consider trying short-term long orders.
✅Intraday trading strategy
🔰Gold Sell: 3397-3400, Stop Loss: 5-8$
Target: 3360-3330, if it breaks, look to 3300
🔰Gold Buy: 3300-3305, Stop Loss: 5-8$
Target: 3330-3350, if it breaks, look to 3370
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
📊From the perspective of the 4-hour cycle, gold formed a substantial negative line yesterday evening and fell directly below the support of the 5-day and 10-day moving averages. Technically, it is possible for further declines. At present, the middle track of the Bollinger Band is near 3300. If the short-selling momentum continues, this will become the primary support level below. However, if the price stops falling and stabilizes in this area, and maintains a high-level oscillation pattern, it is still possible to test the previous high of 3430 again. Therefore, the current market is in a stage where the direction is unclear, and there is a possibility of both rising and falling space, which needs to be flexibly responded to in combination with short-term performance.
📊From the perspective of hours and smaller cycles, the price in the morning is weak and corrected. At present, the focus is on the effectiveness of the 3360-3350 support. If the support in this area is effective, there is still hope for a short-term rebound, with the target first at 3400. If the momentum is strong, it is expected to challenge 3430; on the contrary, if it falls below 3350, the market is likely to further fall back to 3300.
🔴Upper resistance level: 3400-3405 range
🔰If the price rebounds to this area and is blocked, consider light positions to arrange short orders.
🟢Lower support level 1: 3350-3360 range
🟢Lower support level 2: 3330-3300 range
🔰If the price touches the support and stops falling, consider trying short-term long orders.
✅Intraday trading strategy
🔰Gold Sell: 3397-3400, Stop Loss: 5-8$
Target: 3360-3330, if it breaks, look to 3300
🔰Gold Buy: 3300-3305, Stop Loss: 5-8$
Target: 3330-3350, if it breaks, look to 3370
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
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.
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.