Gold technical analysis
Weekly chart resistance 3500, support below 2955
Daily chart resistance 3412, support below 3350-22
Four-hour chart resistance 3390, support below 3322
One-hour chart resistance 3378, support below 3322
Gold news analysis: On Tuesday (June 3) in the NY market, spot gold accelerated its decline, falling to around $3333/ounce, a sharp drop of $59 during the day. Mainly affected by the rebound of the US dollar and the rebound in risk sentiment. Affected by the rise of risky assets the day before, the demand for safe-haven assets was weakened, causing some gold bulls to choose to take profits. However, the market remains vigilant about the global situation. The continued expansion of the US fiscal deficit, the escalation of trade tensions between Asian powers and the United States, and the failure of the second round of peace talks between Ukraine and Russia have made the market risk aversion still support gold.
Gold operation suggestions: From the current trend analysis, the support below focuses on the support of 3350-3322. The pressure above focuses on the suppression near the one-hour level 3378 and the four-hour level 3390. The short-term long-short strength and weakness watershed 3322. Continue to buy on dips before the four-hour level falls below this position.
Buy: 3322near SL: 3317
Buy: 3350near SL: 3345
Daily sharing →
Weekly chart resistance 3500, support below 2955
Daily chart resistance 3412, support below 3350-22
Four-hour chart resistance 3390, support below 3322
One-hour chart resistance 3378, support below 3322
Gold news analysis: On Tuesday (June 3) in the NY market, spot gold accelerated its decline, falling to around $3333/ounce, a sharp drop of $59 during the day. Mainly affected by the rebound of the US dollar and the rebound in risk sentiment. Affected by the rise of risky assets the day before, the demand for safe-haven assets was weakened, causing some gold bulls to choose to take profits. However, the market remains vigilant about the global situation. The continued expansion of the US fiscal deficit, the escalation of trade tensions between Asian powers and the United States, and the failure of the second round of peace talks between Ukraine and Russia have made the market risk aversion still support gold.
Gold operation suggestions: From the current trend analysis, the support below focuses on the support of 3350-3322. The pressure above focuses on the suppression near the one-hour level 3378 and the four-hour level 3390. The short-term long-short strength and weakness watershed 3322. Continue to buy on dips before the four-hour level falls below this position.
Buy: 3322near SL: 3317
Buy: 3350near SL: 3345
Daily sharing →
Trade active
After the buy strategy of 3350 was released today, the first rise from 3348 to 3365, and the second rise from 3351 to 3365. These are all profitable. Now it falls below the convergence triangle range, short-term bearish. Trade closed: target reached
Gold has broken through today's high of 3385, and will continue to hit the high of 3400 next.Stabilize above 3380 and continue to be bullish.
Do you think it will reach 3400 today?
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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.