Yesterday, gold did not fluctuate much. It has been fluctuating around 2670, and the resistance of 2680 has not been tried.
Until today, Putin confirmed that Russia launched a new medium-range ballistic missile in response to Ukraine's previous attack on Russia with weapons from its allies. Although this missile carries conventional non-nuclear warheads, the strike range covers the entire Europe. This signal is obviously aimed at Europe. It is precisely because of this potential threat that the risk aversion sentiment has been further raised, causing gold and the US dollar to rise together.
From the 4H chart, we can see that gold is likely to form a head and shoulders bottom. Now it depends on whether the resistance in the 2700-2710 area will be broken. If it cannot be broken, the callback may reach 50-60$, so it needs to be handled with caution.
If it cannot be broken, I will consider shorting in this resistance area
Until today, Putin confirmed that Russia launched a new medium-range ballistic missile in response to Ukraine's previous attack on Russia with weapons from its allies. Although this missile carries conventional non-nuclear warheads, the strike range covers the entire Europe. This signal is obviously aimed at Europe. It is precisely because of this potential threat that the risk aversion sentiment has been further raised, causing gold and the US dollar to rise together.
From the 4H chart, we can see that gold is likely to form a head and shoulders bottom. Now it depends on whether the resistance in the 2700-2710 area will be broken. If it cannot be broken, the callback may reach 50-60$, so it needs to be handled with caution.
If it cannot be broken, I will consider shorting in this resistance area
Trade active
The decline has begun, continue to hold positions and wait for the declineTrade closed: target reached
Gold prices fell as expected, please pay attention to profit-taking and closing positions
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🟡Contact me to copy trading:
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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.
📣More detailed real-time trading strategies will be released in the channel, welcome to join and get them
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
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.