Gold technical analysis
Daily chart resistance 3200, support below 3100
Four-hour chart resistance 3175-92, support below 3100
One-hour chart resistance 3167, support below 3100
Analysis of gold news: The spot gold market showed a volatile downward trend on Wednesday. Despite the weak performance of the US dollar index and the market's expectations for the Fed's rate cut, gold prices remained under pressure and failed to continue the rebound momentum on Tuesday. The market focus is on the fading risk aversion caused by Trump's recent tariff remarks and the latest developments in the geopolitical situation, such as potential progress in negotiations between Russia and Ukraine. Looking ahead, the spot gold market may continue to be affected by multiple factors. The US Producer Price Index (PPI) data to be released on Thursday will provide new clues to the market. If the PPI data further confirms the slowdown in inflationary pressures, expectations for rate cuts may continue to heat up, providing potential support for gold prices. However, any unexpected developments in tariff remarks and the situation between Russia and Ukraine could quickly change market sentiment and reignite safe-haven demand.
Gold operation suggestions: From the current trend analysis, the lower support focuses on the integer support of 3100, the upper pressure focuses on the suppression near 3167 in the one-hour chart and 3175 in the four-hour chart, and the short-term long-short strength and weakness dividing line focuses on 3167. Before the daily level breaks through and stands on this position, continue to rebound and sell.
Sell: 3175near SL: 3180
Sell: 3167near SL: 3171
More free sharing will be updated daily
Daily chart resistance 3200, support below 3100
Four-hour chart resistance 3175-92, support below 3100
One-hour chart resistance 3167, support below 3100
Analysis of gold news: The spot gold market showed a volatile downward trend on Wednesday. Despite the weak performance of the US dollar index and the market's expectations for the Fed's rate cut, gold prices remained under pressure and failed to continue the rebound momentum on Tuesday. The market focus is on the fading risk aversion caused by Trump's recent tariff remarks and the latest developments in the geopolitical situation, such as potential progress in negotiations between Russia and Ukraine. Looking ahead, the spot gold market may continue to be affected by multiple factors. The US Producer Price Index (PPI) data to be released on Thursday will provide new clues to the market. If the PPI data further confirms the slowdown in inflationary pressures, expectations for rate cuts may continue to heat up, providing potential support for gold prices. However, any unexpected developments in tariff remarks and the situation between Russia and Ukraine could quickly change market sentiment and reignite safe-haven demand.
Gold operation suggestions: From the current trend analysis, the lower support focuses on the integer support of 3100, the upper pressure focuses on the suppression near 3167 in the one-hour chart and 3175 in the four-hour chart, and the short-term long-short strength and weakness dividing line focuses on 3167. Before the daily level breaks through and stands on this position, continue to rebound and sell.
Sell: 3175near SL: 3180
Sell: 3167near SL: 3171
More free sharing will be updated daily
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The resistance at 3167 is not strong, the lowest is only 3165. If 3175 cannot stop it, it will most likely go to around 3190 before falling, so close the sell order near the entry point.
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
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.