Gold price test on Monday: Pressure around 3040-3045
There is no doubt that gold will definitely face short-selling pressure next.
Gold's current fluctuation range: 3000-3060
Head and shoulders top in four-hour cycle, the top is around 3058, and there is a high possibility of a double top structure next
So I estimate that the next top is in the 3040-3045 range.
Gold hourly line pattern analysis
Resistance range: The 3045-3035 range is an important short-term resistance. If the gold price cannot break through this range, it may continue to fall under pressure.
Support range: The 3000 integer mark is a key short-term support. If it falls below, it may further drop to around 2980.
Monday ideas and strategies
1. Short selling strategy
Entry point: Try shorting in the 3030-3040 range.
Stop loss setting: 3046
Target point: 3015
2. Long strategy
Entry point: Try to go long around 3010--3015
Stop loss setting: 2995
Target point: 3030---3045
If the price falls below 3000 quickly, it is not recommended to chase long, you can wait and see or switch to shorting.
There is no doubt that gold will definitely face short-selling pressure next.
Gold's current fluctuation range: 3000-3060
Head and shoulders top in four-hour cycle, the top is around 3058, and there is a high possibility of a double top structure next
So I estimate that the next top is in the 3040-3045 range.
Gold hourly line pattern analysis
Resistance range: The 3045-3035 range is an important short-term resistance. If the gold price cannot break through this range, it may continue to fall under pressure.
Support range: The 3000 integer mark is a key short-term support. If it falls below, it may further drop to around 2980.
Monday ideas and strategies
1. Short selling strategy
Entry point: Try shorting in the 3030-3040 range.
Stop loss setting: 3046
Target point: 3015
2. Long strategy
Entry point: Try to go long around 3010--3015
Stop loss setting: 2995
Target point: 3030---3045
If the price falls below 3000 quickly, it is not recommended to chase long, you can wait and see or switch to shorting.
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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.
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.