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The tariff storm has come to an end, and gold has plummeted. At 3 o'clock today, gold plummeted by more than 40 US dollars in 10 minutes in the short term, because the tariff storm has ended, and China and the United States will only impose a 10% base tariff. So the so-called tariff storm of more than 100 points by all parties has ended. At present, it is no longer good for gold in terms of the trade war, and the short-term plunge has been encountered long ago!
At the same time, this point, coupled with the hawkish "holding troops" of the Federal Reserve, helped the US dollar to stabilize near the highs of several weeks and put pressure on gold. It also became the fuse for a new round of gold price selling. In addition, the current situation in the Middle East countries has temporarily begun to mediate, and the difficulty of maintaining risk aversion makes it difficult for buyers to enter the market again!
How to enter the market after the plunge?
After the market plummeted across the board, from a technical point of view, the oscillator indicators on the hourly chart have been gaining negative traction and supporting the prospect of further declines in gold prices during the session. Coupled with the current continued selling of gold, a position that needs to be focused on in the European session is around 3200. If it falls below this position decisively, it will pave the way for the weekly retracement trend.
At present, since the mid-term short orders I have arranged have been profitable and exited, if I want to gamble again, I need to pay close attention to the position of 3200. Breaking down and rebounding from support will usher in different market crazes and long-short games. The market fluctuates violently, and real-time entry is mainly based on real trading!
The tariff storm has come to an end, and gold has plummeted. At 3 o'clock today, gold plummeted by more than 40 US dollars in 10 minutes in the short term, because the tariff storm has ended, and China and the United States will only impose a 10% base tariff. So the so-called tariff storm of more than 100 points by all parties has ended. At present, it is no longer good for gold in terms of the trade war, and the short-term plunge has been encountered long ago!
At the same time, this point, coupled with the hawkish "holding troops" of the Federal Reserve, helped the US dollar to stabilize near the highs of several weeks and put pressure on gold. It also became the fuse for a new round of gold price selling. In addition, the current situation in the Middle East countries has temporarily begun to mediate, and the difficulty of maintaining risk aversion makes it difficult for buyers to enter the market again!
How to enter the market after the plunge?
After the market plummeted across the board, from a technical point of view, the oscillator indicators on the hourly chart have been gaining negative traction and supporting the prospect of further declines in gold prices during the session. Coupled with the current continued selling of gold, a position that needs to be focused on in the European session is around 3200. If it falls below this position decisively, it will pave the way for the weekly retracement trend.
At present, since the mid-term short orders I have arranged have been profitable and exited, if I want to gamble again, I need to pay close attention to the position of 3200. Breaking down and rebounding from support will usher in different market crazes and long-short games. The market fluctuates violently, and real-time entry is mainly based on real trading!
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Gold falls steadily
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Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
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.