Gold has currently hit a low near 3350, rebounding from the bottom and now rising to around 3390.
Looking at the 1-hour chart:
The most critical upward level is currently around 3390. If the price breaks through this level and stabilizes above it, the late July high of 3430 could be revisited. Conversely, if it remains below 3390, the overall range will remain between 3350 and 3390.
Secondly, looking at the 4-hour chart, we can see that the trend line resistance level is also currently around 3390. If the price stabilizes above 3390, the upper 4-hour chart could directly reach the 3400-3410 range. If the price holds above 3410 again, the next target would be around 3450.
Looking at the 1-hour chart:
The most critical upward level is currently around 3390. If the price breaks through this level and stabilizes above it, the late July high of 3430 could be revisited. Conversely, if it remains below 3390, the overall range will remain between 3350 and 3390.
Secondly, looking at the 4-hour chart, we can see that the trend line resistance level is also currently around 3390. If the price stabilizes above 3390, the upper 4-hour chart could directly reach the 3400-3410 range. If the price holds above 3410 again, the next target would be around 3450.
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.