Gold continued to rise yesterday, up more than 1%. This is the power of the trend. Don't guess whether it has reached the top. This is not in line with market logic, because there is no turning signal. The risk of guessing that it has reached the top is relatively high. Of course, the market is always relative. It is impossible to keep rising. It is necessary to prevent the risk of large adjustments!
Yesterday, the highest impact of the US market was 3038. There may be room for a short-term rise, but you must pay attention to the future. Going long is also a short-term profit exit. The daily and weekly lines are in an overbought divergence state. The price deviates far from the short-term moving average, and the risk of stepping back is getting bigger and bigger. Be bullish but not blind, and don't chase more. The short-term has risen three times, and the possibility of a pullback needs to be prevented later!
Pay attention to the news of the Fed's interest rate decision. There was not much risk in going long before this. It should be a strong form. Gold continued to set new highs in 1 hour, but it is obviously not appropriate to enter at a high level now. It is better to wait patiently for a decline and continue to buy. Gold focuses on the support near the starting point of 3015 and continues to go long. The market is changing rapidly. Since the gold bulls continue to be strong, gold will continue to trade with the trend.
Key points:
First support: 3023, second support: 3016, third support: 3002
First resistance: 3039, second resistance: 3048, third resistance: 3056
Operation ideas:
Buy: 3013-3015, SL: 3004, TP: 3035-3045;
Sell: 3048-3050, SL: 3059, TP: 3020-3010;
For more daily analysis, click on my avatar to view
Yesterday, the highest impact of the US market was 3038. There may be room for a short-term rise, but you must pay attention to the future. Going long is also a short-term profit exit. The daily and weekly lines are in an overbought divergence state. The price deviates far from the short-term moving average, and the risk of stepping back is getting bigger and bigger. Be bullish but not blind, and don't chase more. The short-term has risen three times, and the possibility of a pullback needs to be prevented later!
Pay attention to the news of the Fed's interest rate decision. There was not much risk in going long before this. It should be a strong form. Gold continued to set new highs in 1 hour, but it is obviously not appropriate to enter at a high level now. It is better to wait patiently for a decline and continue to buy. Gold focuses on the support near the starting point of 3015 and continues to go long. The market is changing rapidly. Since the gold bulls continue to be strong, gold will continue to trade with the trend.
Key points:
First support: 3023, second support: 3016, third support: 3002
First resistance: 3039, second resistance: 3048, third resistance: 3056
Operation ideas:
Buy: 3013-3015, SL: 3004, TP: 3035-3045;
Sell: 3048-3050, SL: 3059, TP: 3020-3010;
For more daily analysis, click on my avatar to view
Trade active
It is expected to fluctuate in the range of 3030~3045. Wait for the price to stabilize before buying, or sell after reaching the resistance zone. Trade closed manually
Both selling and buying have made profits today 
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t.me/JungoldAnalyst
✅Contact me
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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.
🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
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.