Gold is about to test the 3000 support
From the current market, gold continued to fall on Friday and encountered a large amount of selling. It has now hit a low of 3016.
Source:
The non-agricultural data of the US market will be released tonight, which is obviously bearish, and the gold price has fallen from a high level.
At present: the weekly moving average of gold price is suppressed and blocked. After testing the resistance, a short-term long-short reversal is formed, and it retreats and breaks the intraday low.
From the overall trend: there is no doubt that the weak pattern of gold is reasonable. It is reasonable to continue to be under pressure and fall.
Current pressure: 3050-3055 area, continue to look up to 3060-3070 area,
Current support: 3000 mark, there will be a rebound above, and a new round of downward space will be opened below.
Upper resistance: focus on 3055 first, and then focus on 3068.
If the bulls break through strongly, the gold price is expected to return to 3080.
Of course, the possibility of a short-term rise is not great. After all, in the strong and repeated trend, the double top structure formed by 3135 and 3080 has been confirmed.
It is expected to continue to break through next week and test the 3000 integer mark.
Overall:
Gold short-term operation ideas:
Short-term focus on the upper side: 3050-3055 resistance
Short-term focus on the lower side: 3000-3015 support.
From the current market, gold continued to fall on Friday and encountered a large amount of selling. It has now hit a low of 3016.
Source:
The non-agricultural data of the US market will be released tonight, which is obviously bearish, and the gold price has fallen from a high level.
At present: the weekly moving average of gold price is suppressed and blocked. After testing the resistance, a short-term long-short reversal is formed, and it retreats and breaks the intraday low.
From the overall trend: there is no doubt that the weak pattern of gold is reasonable. It is reasonable to continue to be under pressure and fall.
Current pressure: 3050-3055 area, continue to look up to 3060-3070 area,
Current support: 3000 mark, there will be a rebound above, and a new round of downward space will be opened below.
Upper resistance: focus on 3055 first, and then focus on 3068.
If the bulls break through strongly, the gold price is expected to return to 3080.
Of course, the possibility of a short-term rise is not great. After all, in the strong and repeated trend, the double top structure formed by 3135 and 3080 has been confirmed.
It is expected to continue to break through next week and test the 3000 integer mark.
Overall:
Gold short-term operation ideas:
Short-term focus on the upper side: 3050-3055 resistance
Short-term focus on the lower side: 3000-3015 support.
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.