📊Judging from the trend of the daily chart, the overall gold price has been in a high-level consolidation trend recently. After falling from the high point near 3500, there has been a significant adjustment. At present, although the gold price has rebounded after the correction to the low point of the week, the rebound momentum is limited by the 23.6% Fibonacci retracement level (about 3368-3370 area), which has been transformed into an important short-term resistance level.
📊On Friday, the gold market continued the rhythm of Thursday, and quickly rose to around 3370 in the early trading, but encountered resistance and fell back here, and then started a new round of downward trend, and fell below the low point of the previous day's European and American trading. It rebounded after the lowest point fell to around 3265. It is worth noting that the gold price not only failed to break through the key resistance above, but also further refreshed the short-term low, indicating that the market bearish sentiment is still dominant.
📊From the current market structure, the 3260-3265 area has become a key support level, and it is necessary to pay close attention to whether the subsequent trend can effectively break through it. Once it falls below $3260, the bearish trend will be further confirmed, and the gold price may usher in a deeper correction. Based on the current K-line morphological observation, a "two negatives and one positive" structure has been formed, which technically implies that there is still a risk of continued adjustment in the short term. However, the adjustment method may not be a unilateral decline, and there is also the possibility of correction in the form of sideways fluctuations (i.e. repeated fluctuations in the 3260-3370 range).
🟢Upper resistance level: 3368-3370
🔴Lower support level: 3260-3265
✅Intraday trading strategy
🔰Gold Sell: 3368-3370, Stop Loss: 5-8$
Target: 3300-3285, if it breaks, look to 3260
🔰Gold Buy: 3265-3270, Stop Loss: 5-8$
Target: 3290-3330, if it breaks, look to 3370
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
📊On Friday, the gold market continued the rhythm of Thursday, and quickly rose to around 3370 in the early trading, but encountered resistance and fell back here, and then started a new round of downward trend, and fell below the low point of the previous day's European and American trading. It rebounded after the lowest point fell to around 3265. It is worth noting that the gold price not only failed to break through the key resistance above, but also further refreshed the short-term low, indicating that the market bearish sentiment is still dominant.
📊From the current market structure, the 3260-3265 area has become a key support level, and it is necessary to pay close attention to whether the subsequent trend can effectively break through it. Once it falls below $3260, the bearish trend will be further confirmed, and the gold price may usher in a deeper correction. Based on the current K-line morphological observation, a "two negatives and one positive" structure has been formed, which technically implies that there is still a risk of continued adjustment in the short term. However, the adjustment method may not be a unilateral decline, and there is also the possibility of correction in the form of sideways fluctuations (i.e. repeated fluctuations in the 3260-3370 range).
🟢Upper resistance level: 3368-3370
🔴Lower support level: 3260-3265
✅Intraday trading strategy
🔰Gold Sell: 3368-3370, Stop Loss: 5-8$
Target: 3300-3285, if it breaks, look to 3260
🔰Gold Buy: 3265-3270, Stop Loss: 5-8$
Target: 3290-3330, if it breaks, look to 3370
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
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.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
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.