Gold trading strategy analysis
Updated
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Recently, there have been a lot of bearish calls in the market. The louder the calls, the stronger the rally. The two important functions that affect the price trend of gold are risk aversion and resistance to inflation.
First, the relationship between supply and demand. Global gold mining and supply have stabilized, with market supply exceeding demand and prices falling.
Second, economic factors: global economic growth is slowing down and demand for bulk commodities is weakening. U.S. data continued to rebound, consumption was weak, and global risk assets suffered a sell-off. This is especially true as Cyprus plans to sell off its gold reserves, sparking concerns that other countries may follow suit. Well-known international investment banks such as Goldman Sachs and Merrill Lynch began to collectively lower their expectations for gold prices, causing investors to sell in panic.
For today's gold on Tuesday, the price fell below the ascending channel line and finally rebounded to determine the resistance area 2330-2332. This is a defensive suppression range and continued suppression is effective. If the price falls below the 2315-2312 area, if it falls below, then look for Go to the next 2303-2300 area, and then look for the 2388 and 2366 ranges
The next thing to do is to use the top of the starting and falling points as a defense, and then continue to hold gold high, watch the price accelerate to test the 2315-2312 area, and switch the range downwards if the position is broken.
My suggestion is to go short around $2320-2310, with a stop loss of $2335 and a target of $2302-2300.
I share trading strategies and trading ideas every day. ⬇⬇⬇Get detailed trading signals so that everyone is no longer confused when trading. I hope that with my help, everyone can get good results
Recently, there have been a lot of bearish calls in the market. The louder the calls, the stronger the rally. The two important functions that affect the price trend of gold are risk aversion and resistance to inflation.
First, the relationship between supply and demand. Global gold mining and supply have stabilized, with market supply exceeding demand and prices falling.
Second, economic factors: global economic growth is slowing down and demand for bulk commodities is weakening. U.S. data continued to rebound, consumption was weak, and global risk assets suffered a sell-off. This is especially true as Cyprus plans to sell off its gold reserves, sparking concerns that other countries may follow suit. Well-known international investment banks such as Goldman Sachs and Merrill Lynch began to collectively lower their expectations for gold prices, causing investors to sell in panic.
For today's gold on Tuesday, the price fell below the ascending channel line and finally rebounded to determine the resistance area 2330-2332. This is a defensive suppression range and continued suppression is effective. If the price falls below the 2315-2312 area, if it falls below, then look for Go to the next 2303-2300 area, and then look for the 2388 and 2366 ranges
The next thing to do is to use the top of the starting and falling points as a defense, and then continue to hold gold high, watch the price accelerate to test the 2315-2312 area, and switch the range downwards if the position is broken.
My suggestion is to go short around $2320-2310, with a stop loss of $2335 and a target of $2302-2300.
I share trading strategies and trading ideas every day. ⬇⬇⬇Get detailed trading signals so that everyone is no longer confused when trading. I hope that with my help, everyone can get good results
Trade active
The price of gold fell as low as $2,310 and now has a short rebound. We can short gold above $2,320.Trade active
It is a pity that the price of gold has not reached the expected entry point. We can wait for a while.Trade active
Gold has now fallen below $2,310.Trade active
Gold continued to fall and once fell to the level of $2,305Trade active
The price of gold fell sharply to around US$2,303 to see if it can fall below the US$2,300 level.Trade active
Gold manages to break below $2,300 levelTrade active
After gold successfully fell below the $2,300 level, it did not rebound above $2,300Trade active
Gold prices continue to trade below $2,300Trade active
Did you take my advice and make a profit in today's gold trading?Trade active
Gold has fallen all the way to the level of $2,280. The downward trend is obvious. Be cautious in going long gold.
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