Gold opened at 3240 today and then rushed to 3252, then touched pressure and stepped back. We also gave a short position at 3240 and a short position at 3256-6. After all, there is a lot of pressure from above, and the technical side also needs to repair the strategy, so we gave a short entry at 3238-40, and the target is 3215. So far, the lowest point of the retracement is around 3214, which is also successfully reached our target position. Today's Asian session's high and retracement is completely due to the need for technical adjustments. Yesterday, it bottomed out and rebounded, with an increase of more than one hundred US dollars. The technical side is weak and needs a correction. This is the reason why I gave the short position.
Judging from the current 4-hour market trend, the upper side pays attention to the important suppression of 3258-60, and the lower side pays attention to the support of 3200-3210. The current bulls of gold are temporarily weak and falling back, but the current operation is still mainly to go long after the rebound.
Judging from the current 4-hour market trend, the upper side pays attention to the important suppression of 3258-60, and the lower side pays attention to the support of 3200-3210. The current bulls of gold are temporarily weak and falling back, but the current operation is still mainly to go long after the rebound.
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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.