Spot gold prices have rebounded slightly since yesterday's plunge and are currently trading near the $3,000 mark. It is currently trying to stabilize. This round of adjustments occurred against the backdrop of a renewed escalation of global trade frictions. The United States threatened to impose a 50% tariff on imported goods, causing market concerns about the economic outlook, while expectations of the Fed's interest rate cut path also fluctuated sharply.
From the daily chart analysis, gold is in a period of adjustment after a long-term upward trend. The MA55 moving average is currently at 2930.58, forming a medium-term support, while the MA14 moving average (3054.92) has become a recent resistance. From the overall trend, gold still maintains a medium- and long-term upward channel intact, and the current adjustment can be regarded as a correction in the upward trend. The price reaction to the $3,000 mark will be a key indicator of the short-term direction. If the price can stand firm at this level, it will increase the possibility of a rebound. From the perspective of trend analysis, as long as the price remains above MA55 (2930.58), the bullish pattern is still dominant. However, if the Fed's rate cut expectations are adjusted significantly or the market risk sentiment improves significantly, it may suppress the gold price, and $2,900 will become a more important support level.
In the short term, the gold price may fluctuate and consolidate in the range of $2,930-3,050. The signal of the technical indicators indicates that the current price is close to the oversold state, but the emergence of the golden cross and the formation of the double bottom pattern provide technical support for the short-term rebound. If the price can effectively stand at the $2,990 mark, it may try to challenge the $3,033-3,058 area, which corresponds to the previous high and the upper track of the Bollinger Band.
If you don't know when to enter the market and the transaction is bad, follow me, copy the precise signals published in real time every day, the Baker Bitcoin Gold Trading Center or leave me a message, and simultaneously expand profits and reduce losses, and move towards victory.
XAUUSD XAUUSD GOLD XAUUSD GOLD XAUUSD XAUUSD
From the daily chart analysis, gold is in a period of adjustment after a long-term upward trend. The MA55 moving average is currently at 2930.58, forming a medium-term support, while the MA14 moving average (3054.92) has become a recent resistance. From the overall trend, gold still maintains a medium- and long-term upward channel intact, and the current adjustment can be regarded as a correction in the upward trend. The price reaction to the $3,000 mark will be a key indicator of the short-term direction. If the price can stand firm at this level, it will increase the possibility of a rebound. From the perspective of trend analysis, as long as the price remains above MA55 (2930.58), the bullish pattern is still dominant. However, if the Fed's rate cut expectations are adjusted significantly or the market risk sentiment improves significantly, it may suppress the gold price, and $2,900 will become a more important support level.
In the short term, the gold price may fluctuate and consolidate in the range of $2,930-3,050. The signal of the technical indicators indicates that the current price is close to the oversold state, but the emergence of the golden cross and the formation of the double bottom pattern provide technical support for the short-term rebound. If the price can effectively stand at the $2,990 mark, it may try to challenge the $3,033-3,058 area, which corresponds to the previous high and the upper track of the Bollinger Band.
If you don't know when to enter the market and the transaction is bad, follow me, copy the precise signals published in real time every day, the Baker Bitcoin Gold Trading Center or leave me a message, and simultaneously expand profits and reduce losses, and move towards victory.
XAUUSD XAUUSD GOLD XAUUSD GOLD XAUUSD XAUUSD 
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✔Copy accurate trading signals✔Manage accounts🎁Stable profit of more than 210.8% per week🎁Success rate is as high as 98.55%, real-time communication: t.me/cryptoanalyst_baker
Signal entry: t.me/FcCygjylf
Signal entry: t.me/FcCygjylf
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.