Gold technical analysis
4-hour chart resistance level 3300, support level 3168
1-hour chart resistance level 3260, support level 3200
30-minute chart resistance level 3248, support level 3216,
The decline in gold is due to the joint statement issued by China and the United States at the Geneva economic and trade talks today, and the Sino-US tariff war has been eased. Risk aversion has subsided, and gold has fallen again under pressure.
The 4-hour chart MACD crosses below the zero axis, and KDJ diverges downward. If the price cannot return to above 3260, the medium- and long-term bearish trend will be difficult to change. The 1-hour chart RSI and ADX indicators show strong bearish momentum. If it falls below 3200, it may accelerate downward and continue to test the previous top and bottom conversion position of 3168.
The gold market is suppressed by trade optimism and the strengthening of the US dollar, and the short-term technical side is bearish. Short-term support focuses on 3210~3200, and the upper resistance area of 3245~3260 can be sold at highs.
4-hour chart resistance level 3300, support level 3168
1-hour chart resistance level 3260, support level 3200
30-minute chart resistance level 3248, support level 3216,
The decline in gold is due to the joint statement issued by China and the United States at the Geneva economic and trade talks today, and the Sino-US tariff war has been eased. Risk aversion has subsided, and gold has fallen again under pressure.
The 4-hour chart MACD crosses below the zero axis, and KDJ diverges downward. If the price cannot return to above 3260, the medium- and long-term bearish trend will be difficult to change. The 1-hour chart RSI and ADX indicators show strong bearish momentum. If it falls below 3200, it may accelerate downward and continue to test the previous top and bottom conversion position of 3168.
The gold market is suppressed by trade optimism and the strengthening of the US dollar, and the short-term technical side is bearish. Short-term support focuses on 3210~3200, and the upper resistance area of 3245~3260 can be sold at highs.
Trade active
The market is the same as my analysis. Gold started to rebound in the 3210~3200 support area. I bought it after it stabilized. I hope you can also make some profits from my analysis.If the market gives an opportunity, you can sell it after a short-term overbought signal appears at 3245~3260.
Trade closed: target reached
Huge profits today Note
Gold reached 3247.3 and started to fall, just as I expected. As long as gold does not break through 3260, we can sell it. Today's market fluctuates too fast, so it is suitable for short-term holding. Please pay attention to the change of trend.
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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.