Market news:
After the Asian trading session opened on Monday (June 30), spot gold fell sharply, with the London gold price falling to as low as $3,247/ounce, a sharp drop of nearly $30 during the day. Due to the ceasefire agreement between Israel and Iran and the easing of trade tensions, the market risk appetite has rebounded, weakening the brilliance of gold as a safe-haven tool. International gold plummeted last week, hitting a new low since May 29!Although the ceasefire agreement between Iran and Israel has been maintained, the geopolitical situation has not been completely calm. Trump made a tough statement last Friday, saying that he would consider bombing Iran again and abandoning the plan to lift sanctions on Iran. These events have reignited the market's risk aversion. Gold prices bottomed out and rebounded in early Asian trading on Monday, showing support for bargain hunting.This week will face the impact of the US non-farm payrolls report. It is necessary to pay close attention to key economic data and events this week, which will provide more clues to the Federal Reserve's monetary policy path and thus affect the trend of gold prices. Against the backdrop of geopolitical and economic uncertainties, the gold market may continue to show high volatility, and investors need to remain cautious and respond flexibly!
Technical Review:
Gold maintained a wide range of fluctuations. It opened high in the Asian session and rose to 3281.5 before falling sharply to 3247.8. After a large wash, it returned to above the 3270 mark. The MA10 daily moving average of the short-term four-hour chart opened downward, and the price continued to move down along the moving average. The RSI indicator ran on the lower track of the middle axis, and the price was in the middle and lower track of the Bollinger Band channel and was running short.The daily and weekly charts have a continuous negative structure, and the RSI indicator runs below the 50 value of the middle axis. Technically, the overall trend of gold is biased towards selling, but it should be considered that the recent trends are all wide-range structures with large price ranges, which are not easy to chase orders. Trading ideas: sell at a high price on the rebound and assist in buying at a low price.
Today's analysis:
Gold opened high and closed low in the Asian session, and the Asian session directly broke the low point of last Friday. The market direction remains weak. For our short-term layout direction, we still follow the general trend to rebound and sell! The key points above focus on the high point of 3283 in the Asian session, followed by the moving average pressure level of 3295. When the rebound reaches the upper resistance, you can start selling!The gold 1-hour moving average continues to cross downward and arrange for selling, and there is a possibility of further downward divergence. The selling momentum of gold is still very strong. After gold fell below the last low of 3295, gold did not have any strong rebound, but has been under pressure and fluctuated downward. Therefore, 3295 is still the key to gold trading in the short term. Gold continues to sell at high prices under pressure at 3295 during the day.
Operation ideas:
Buy short-term gold at 3252-3255, stop loss at 3244, target at 3280-3300;
Sell short-term gold at 3293-3296, stop loss at 3305, target at 3260-3240;
Key points:
First support level: 3292, second support level: 3306, third support level: 3320
First resistance level: 3268, second resistance level: 3253, third resistance level: 3242
After the Asian trading session opened on Monday (June 30), spot gold fell sharply, with the London gold price falling to as low as $3,247/ounce, a sharp drop of nearly $30 during the day. Due to the ceasefire agreement between Israel and Iran and the easing of trade tensions, the market risk appetite has rebounded, weakening the brilliance of gold as a safe-haven tool. International gold plummeted last week, hitting a new low since May 29!Although the ceasefire agreement between Iran and Israel has been maintained, the geopolitical situation has not been completely calm. Trump made a tough statement last Friday, saying that he would consider bombing Iran again and abandoning the plan to lift sanctions on Iran. These events have reignited the market's risk aversion. Gold prices bottomed out and rebounded in early Asian trading on Monday, showing support for bargain hunting.This week will face the impact of the US non-farm payrolls report. It is necessary to pay close attention to key economic data and events this week, which will provide more clues to the Federal Reserve's monetary policy path and thus affect the trend of gold prices. Against the backdrop of geopolitical and economic uncertainties, the gold market may continue to show high volatility, and investors need to remain cautious and respond flexibly!
Technical Review:
Gold maintained a wide range of fluctuations. It opened high in the Asian session and rose to 3281.5 before falling sharply to 3247.8. After a large wash, it returned to above the 3270 mark. The MA10 daily moving average of the short-term four-hour chart opened downward, and the price continued to move down along the moving average. The RSI indicator ran on the lower track of the middle axis, and the price was in the middle and lower track of the Bollinger Band channel and was running short.The daily and weekly charts have a continuous negative structure, and the RSI indicator runs below the 50 value of the middle axis. Technically, the overall trend of gold is biased towards selling, but it should be considered that the recent trends are all wide-range structures with large price ranges, which are not easy to chase orders. Trading ideas: sell at a high price on the rebound and assist in buying at a low price.
Today's analysis:
Gold opened high and closed low in the Asian session, and the Asian session directly broke the low point of last Friday. The market direction remains weak. For our short-term layout direction, we still follow the general trend to rebound and sell! The key points above focus on the high point of 3283 in the Asian session, followed by the moving average pressure level of 3295. When the rebound reaches the upper resistance, you can start selling!The gold 1-hour moving average continues to cross downward and arrange for selling, and there is a possibility of further downward divergence. The selling momentum of gold is still very strong. After gold fell below the last low of 3295, gold did not have any strong rebound, but has been under pressure and fluctuated downward. Therefore, 3295 is still the key to gold trading in the short term. Gold continues to sell at high prices under pressure at 3295 during the day.
Operation ideas:
Buy short-term gold at 3252-3255, stop loss at 3244, target at 3280-3300;
Sell short-term gold at 3293-3296, stop loss at 3305, target at 3260-3240;
Key points:
First support level: 3292, second support level: 3306, third support level: 3320
First resistance level: 3268, second resistance level: 3253, third resistance level: 3242
Trade active
Today, many friends lost a lot of money in this market, but my fans made huge profits with my help. This is how the market works. Some people lose money and some people make money. If you don’t have professional trading knowledge and skills, it will be very difficult for you to make stable profits in this market. But you can follow me. I will share real-time trading signals every day to help you make profits.
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.