The non-farm payroll data released on Friday far exceeded expectations, and the resumption of trade negotiations between China and the U.S. ignited market optimism. Spot gold fell under pressure, with a decline of 1.27%. Next week, investors will focus on high-level trade negotiations between China and the U.S. and CPI data.
A sharp decline on Friday saw the daily chart close with a large bearish candle. The Asian session rebounded, the European session oscillated lower, and the U.S. session broke below $3,340 to further decline. Reviewing this week's trend, prices surged on Monday, remained range-bound from Tuesday to Thursday, and plunged on Friday, forming an M-top pattern. Additionally, high-level China-U.S. trade negotiations will be held in London next week, which are expected to proceed smoothly and be bearish for gold. Therefore, gold is bearish next week, with shorting opportunities to be watched near the rebound level of $3,330-$3,340.
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
A sharp decline on Friday saw the daily chart close with a large bearish candle. The Asian session rebounded, the European session oscillated lower, and the U.S. session broke below $3,340 to further decline. Reviewing this week's trend, prices surged on Monday, remained range-bound from Tuesday to Thursday, and plunged on Friday, forming an M-top pattern. Additionally, high-level China-U.S. trade negotiations will be held in London next week, which are expected to proceed smoothly and be bearish for gold. Therefore, gold is bearish next week, with shorting opportunities to be watched near the rebound level of $3,330-$3,340.
I am committed to sharing trading signals every day. Among them, real-time signals will be flexibly pushed according to market dynamics. All the signals sent out last week accurately matched the market trends, helping numerous traders achieve substantial profits. Regardless of your previous investment performance, I believe that with the support of my professional strategies and timely signals, I will surely be able to assist you in breaking through investment bottlenecks and achieving new breakthroughs in the trading field.
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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.