Gold is accumulating momentum in the high range
After gold fluctuated around the 2980 mark last Friday, the bulls broke through. Although it fell under pressure after rising to 3000 points, it remained strong overall. Both the 4-hour chart and the daily chart show that the bulls are dominant.
Short-term support: 2975-2980 area.
Key support: 2956-2960 area (bull-bear watershed).
Resistance: 3000-3005 area, which may further open up the upside after breaking through.
Operational ideas: mainly go long with the trend, be cautious when going short against the trend, and enter and exit quickly.
Gold is currently in a strong bullish pattern, and the operation is mainly to go long after stepping back, focusing on the support areas of 2975-2980 and 2956-2960. The upper target is 3000-3005, and it can continue to hold after breaking through. Be cautious when going short against the trend, strictly stop loss and enter and exit quickly.
Trade active
Gold rose all the way in the Asian session, and broke through 3010 after stabilizing at 3000 in the short term.
Short-term support below 2995-2992
Short-term resistance above 3018-3022
Gold price continues to be dominated by bulls, bulls are strong but momentum is weakening.
Today's operation
Aggressive type: If it pulls back to the 3000-3002 range and stabilizes, you can go long with a light position, stop loss at 2997, target 3015; if it rises to 3015-3020 US dollars and encounters resistance, you can try shorting, stop loss at 3025, target 3005.
Trade closed: target reached
Gold prices closed strongly above the 3,000 mark on Monday. The US "terrorist data" was weaker than market expectations, and the US continued to strike Yemen, causing the market to worry about the situation in the Red Sea. These all provided safe-haven support for gold prices. Technically, gold prices continued to rise at the end of yesterday's trading, but they were under pressure near 3020 in the short term. It is expected that the probability of gold prices fluctuating during the day is high. Further resistance is at 3032.
As the price shocks and repairs, the support level below is also rising. 2992-2995 below is a short-term short-term turning point. 3005 is the first-line support.
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Free Signals ：t.me/+HWbck2OfiTtkMGMx
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.