✅Gold showed a "first decline and then rise" trend today, with the lowest point of the day reaching 3344, which is highly consistent with the long position layout point near 3345 that we publicly reminded in the early trading, showing a precise grasp of the market rhythm. Subsequently, affected by the positive US data, the gold price rose further, and the high point gradually approached the 3392 resistance line, and the bullish momentum continued to increase.
✅From the technical structure, the current low point of gold price continues to move up, showing that the bullish structure is healthy. If there is a subsequent correction, it is expected that it will not break the 3344 support level again. If the daily closing successfully stands above 3392, it will further open up the room for gold to rise and affect the layout direction of our trading strategy on Thursday.
🔴Upper resistance: 3385-3392
🟢Lower support: 3345-3350
✅Day trading strategy:
🔰Aggressive long order: In the 3350-3355 area, you can continue to pay attention to low-level long opportunities, and place the stop loss below 3344
🔰Short order attempt: If the price approaches 3392 and there is obvious stagflation, you can try short-term short orders with a light position, and the target is 3370
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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.