Gold intraday analysis and operation: How to judge the next step after gold breaks through 3130!
Gold's strong rise in the Asian session has brought the price of gold close to 3130 and finally stagnated at 3127. The impact of the US market has not yet appeared, but with the current trend, the volatility of gold tonight will not be too small. The overall idea is to maintain the low north. The intraday volatility range is maintained within the range of 40 points between 3090 and 3130. The current increase has exceeded market expectations. Although there is selling pressure, it is all suppressed by the bulls!
US market pressure focus: 3130-3150 above and 3110-3095 below
The above analysis is a personal analysis suggestion, I hope it can bring some gains to everyone!
We will update regularly every day and introduce to you how we manage active ideas and settings. Thank you for your likes, comments and attention, we are very grateful
Gold's strong rise in the Asian session has brought the price of gold close to 3130 and finally stagnated at 3127. The impact of the US market has not yet appeared, but with the current trend, the volatility of gold tonight will not be too small. The overall idea is to maintain the low north. The intraday volatility range is maintained within the range of 40 points between 3090 and 3130. The current increase has exceeded market expectations. Although there is selling pressure, it is all suppressed by the bulls!
US market pressure focus: 3130-3150 above and 3110-3095 below
The above analysis is a personal analysis suggestion, I hope it can bring some gains to everyone!
We will update regularly every day and introduce to you how we manage active ideas and settings. Thank you for your likes, comments and attention, we are very grateful
Trade active
From the 4-hour chart, the gold price has formed a clear upward channel recently. The CCI (14) indicator is 105.32, which is at a high level but has not yet reached the extreme overbought area. The medium- and short-term support is at $3095 (lower channel track) and $3070 (previous oscillation high). The RSI (14) is 74.32, which is also in the overbought area but has not yet shown a top divergence pattern.
Trade closed: target reached
The transaction continues and the current profit is 8 points.
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Related publications
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.