Although tariffs have been reduced, they are still at a high level. The risk of economic recession seems to be reduced, but the risk of rising interest rates is increasing, which will undoubtedly further suppress the US dollar and benefit gold. After the gold bulls successfully broke through the box shock range, they started a strong upward mode and advanced all the way. At present, there is a need for a callback on the 1-hour chart. Although the moving average is golden cross upward and the bulls are arranged and divergent, the bulls are strong. In the afternoon, gold rebounded quickly when it fell back to around 3298, and this position formed a strong support. Such a substantial breakthrough in the market has strong trend continuity, but the strength is obviously insufficient. At present, the upper resistance is 3317-3322, and the lower support is 3300-3295. It is recommended to rebound and short.
It is recommended to short at the rebound of 3315-3320, with a stop loss of 3325, and the target is 3300-3280.
It is recommended to short at the rebound of 3315-3320, with a stop loss of 3325, and the target is 3300-3280.
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More trading signals and trading information：
t.me/+suYx8Et0SxhmOGZk
t.me/+suYx8Et0SxhmOGZk
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.