The daily chart of gold shows that bulls are regaining control of the market. The pair has formed higher highs and lower lows while remaining above all bullish moving averages. The 20-day moving average (SMA) has gained momentum and is now providing dynamic support near $2,960. Meanwhile, technical indicators have resumed their upward trend after correcting extreme overbought conditions and are in positive territory.
In the short term, gold's upside potential appears limited according to the 4-hour chart. The price is battling with a slightly bearish 20-period SMA but remains well above the 100-period and 200-period SMAs, both of which remain bullish. Meanwhile, technical indicators have retreated from their mid-axis, slightly downside, and are in neutral territory.
Support level: 3014, 2999, 2985
Resistance level: 3035, 3047, 3060
Strategy; The direction of the order can be determined according to the real-time market conditions. At present, it is in the W-shaped trend. Go long when the price is low and go short when the price is high. You must grasp the opportunity and don't be greedy.
If you are in a confused stage, you can follow me. I will release the specific signals in real time in the trading center, so please pay attention. .
XAUUSD GOLD XAUUSD GOLD
In the short term, gold's upside potential appears limited according to the 4-hour chart. The price is battling with a slightly bearish 20-period SMA but remains well above the 100-period and 200-period SMAs, both of which remain bullish. Meanwhile, technical indicators have retreated from their mid-axis, slightly downside, and are in neutral territory.
Support level: 3014, 2999, 2985
Resistance level: 3035, 3047, 3060
Strategy; The direction of the order can be determined according to the real-time market conditions. At present, it is in the W-shaped trend. Go long when the price is low and go short when the price is high. You must grasp the opportunity and don't be greedy.
If you are in a confused stage, you can follow me. I will release the specific signals in real time in the trading center, so please pay attention. .
XAUUSD GOLD XAUUSD GOLD 
Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
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.
Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
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.