Gold technical analysis
Daily chart resistance 3450, support 3338
4-hour chart resistance 3372, support 3338
1-hour chart resistance 3363, support 3340
After the sharp drop at the beginning of this week, the bulls were weak, and each rebound was swallowed by a larger decline. Although there was a counterattack, the overall trend was oscillating downward. Yesterday, it rebounded from above 3362 to 3387, and then fell below 3362 to set a new low at 3347.
After today's shock, it broke through the low of 3347 again and fell to 3340. The short-term trend was weak. The Asian session high was at 3370, and the second high was at 3375. The ideal position is to rebound around 3370/75 during the day and choose to go short. Short-term shocks and declines can wait for rebounds and then go short. It is also easy to rebound quickly after the decline. If the support of 3340/38 is maintained, you can try to buy on the scalp. The second consideration is to sell in advance near 3356 to prevent weakness without a pullback and the NY market directly falling to a new low
Daily chart resistance 3450, support 3338
4-hour chart resistance 3372, support 3338
1-hour chart resistance 3363, support 3340
After the sharp drop at the beginning of this week, the bulls were weak, and each rebound was swallowed by a larger decline. Although there was a counterattack, the overall trend was oscillating downward. Yesterday, it rebounded from above 3362 to 3387, and then fell below 3362 to set a new low at 3347.
After today's shock, it broke through the low of 3347 again and fell to 3340. The short-term trend was weak. The Asian session high was at 3370, and the second high was at 3375. The ideal position is to rebound around 3370/75 during the day and choose to go short. Short-term shocks and declines can wait for rebounds and then go short. It is also easy to rebound quickly after the decline. If the support of 3340/38 is maintained, you can try to buy on the scalp. The second consideration is to sell in advance near 3356 to prevent weakness without a pullback and the NY market directly falling to a new low
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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.