The current uptrend for gold is clear. If there is a pullback at the opening next week, still recommends prioritizing long positions.
From a technical perspective, the 1-hour moving average has formed a golden cross, indicating strong bullish momentum. After breaking through in the afternoon, gold prices pulled back to test the 3330 support level, and the confirmation of its effectiveness has led to the formation of a short-term support structure.
It should be noted that although the 1-hour chart shows a relatively strong trend with a small pullback range, the risk of a deep correction remains a concern.
The operational suggestions for next week focus on the following support levels:
The first support level is 3345 (the bull-bear watershed).
The second support level is 3330 (a key support).
If prices pull back to around 3345 and stabilize, light positions can be taken to test long positions. If 3330 is broken down, the trend needs to be reassessed.
you are currently struggling with losses，or are unsure which of the numerous trading strategies to follow,You have the option to join our VIP program. I will assist you and provide you with accurate trading signals, enabling you to navigate the financial markets with greater confidence and potentially achieve optimal trading results.
From a technical perspective, the 1-hour moving average has formed a golden cross, indicating strong bullish momentum. After breaking through in the afternoon, gold prices pulled back to test the 3330 support level, and the confirmation of its effectiveness has led to the formation of a short-term support structure.
It should be noted that although the 1-hour chart shows a relatively strong trend with a small pullback range, the risk of a deep correction remains a concern.
The operational suggestions for next week focus on the following support levels:
The first support level is 3345 (the bull-bear watershed).
The second support level is 3330 (a key support).
If prices pull back to around 3345 and stabilize, light positions can be taken to test long positions. If 3330 is broken down, the trend needs to be reassessed.
you are currently struggling with losses，or are unsure which of the numerous trading strategies to follow,You have the option to join our VIP program. I will assist you and provide you with accurate trading signals, enabling you to navigate the financial markets with greater confidence and potentially achieve optimal trading results.
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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.