Bros, gold continues to rise under the dual drive of tariff policy uncertainty and the expectation of the Fed's interest rate cut. Since the release of yesterday's CPI data, gold has been rising all the way. With the release of today's PPI and unemployment data, gold has created a new historical high, and even reached 2985 at one point.
It is difficult for gold to break through the 3000 mark in one fell swoop. From the 4H chart, the upper 2985-2990 area may become a potential resistance area. From a technical point of view, although the temporary trend of gold is strong, it is also possible to adjust. If the adjustment is too strong, there will be fluctuations. Therefore, gold is likely to retreat quickly again after testing this resistance area. In the next short-term trading, we can still follow the trading strategy of our previous post and close the position near the 2945-2935 area.
Bros, u must know that the trading market will not sympathize with the weak, and will not believe in tears. A qualified trader will always face the turbulence of the gold market with a calm mind. Only a long-term trading vision can bring long-term profits. I will post every day and share my trading strategies and ideas for free. If you have just entered the market and don’t know how to make more profits, or if you are already in it but the results are not ideal, then you might consider taking a look at my profile.
It is difficult for gold to break through the 3000 mark in one fell swoop. From the 4H chart, the upper 2985-2990 area may become a potential resistance area. From a technical point of view, although the temporary trend of gold is strong, it is also possible to adjust. If the adjustment is too strong, there will be fluctuations. Therefore, gold is likely to retreat quickly again after testing this resistance area. In the next short-term trading, we can still follow the trading strategy of our previous post and close the position near the 2945-2935 area.
Bros, u must know that the trading market will not sympathize with the weak, and will not believe in tears. A qualified trader will always face the turbulence of the gold market with a calm mind. Only a long-term trading vision can bring long-term profits. I will post every day and share my trading strategies and ideas for free. If you have just entered the market and don’t know how to make more profits, or if you are already in it but the results are not ideal, then you might consider taking a look at my profile.
Trade active
Bros, yesterday's big positive line may be to lure more buyers. Be careful of "Black Friday". The current resistance level of gold is still around 2990. As the bulls take profits, it may fall. 2985-2990 is directly short. The target is first to look at 2960-2950, and further down to the 2930 line.
Free trading signals are released every day, with a monthly return rate of nearly 400%. If you also want to copy trading signals, you can join the Telegram group: t.me/Allenview
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.
Free trading signals are released every day, with a monthly return rate of nearly 400%. If you also want to copy trading signals, you can join the Telegram group: t.me/Allenview
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.