Gold technical analysis
Daily chart resistance: 3375, support 3300
Four-hour chart resistance: 3360, support 3300
One-hour chart resistance: 3350, support 3320.
Yesterday, the Asian session retested 3301 and stopped falling and rebounded. The NY market fell again after touching 3348. Today, the Asian session price fell to 3315 and then bottomed out and rebounded. The gold price showed a continuous upward trend. Today, gold will rely on 3315 as a defense to find opportunities to rise. Above 3315, continue to look for opportunities to take more in the small cycle. Buy after the retracement to stop falling and stabilize. See if 3348 yesterday's high can be maintained.
In addition, let's pay attention to the impact of the US CPI data. The expected CPI value is 2.5%. If the CPI is lower than expected, gold may rebound to 3350-3360, and there will be greater room for growth after breaking through 3345; if the CPI exceeds expectations, gold may fall to 3315-3300, and sell after falling below 3320.
Buy: 3320near SL:3315
Buy: 3350near SL:3345
Try to avoid trading during news releases to avoid increased liquidity and violent market fluctuations that will hit the SL when buying/selling
Daily chart resistance: 3375, support 3300
Four-hour chart resistance: 3360, support 3300
One-hour chart resistance: 3350, support 3320.
Yesterday, the Asian session retested 3301 and stopped falling and rebounded. The NY market fell again after touching 3348. Today, the Asian session price fell to 3315 and then bottomed out and rebounded. The gold price showed a continuous upward trend. Today, gold will rely on 3315 as a defense to find opportunities to rise. Above 3315, continue to look for opportunities to take more in the small cycle. Buy after the retracement to stop falling and stabilize. See if 3348 yesterday's high can be maintained.
In addition, let's pay attention to the impact of the US CPI data. The expected CPI value is 2.5%. If the CPI is lower than expected, gold may rebound to 3350-3360, and there will be greater room for growth after breaking through 3345; if the CPI exceeds expectations, gold may fall to 3315-3300, and sell after falling below 3320.
Buy: 3320near SL:3315
Buy: 3350near SL:3345
Try to avoid trading during news releases to avoid increased liquidity and violent market fluctuations that will hit the SL when buying/selling
Note
The published value of 2.4% is slightly lower than expected. As I said just now, it will push gold up. Now gold will rise first, don't participate in selling! Break through the 3350 pressure level!
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
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.