In the short-term trend, the pullback on Thursday halted at 3,284 and did not reach the vicinity of the support level of 3,245, which was converted from the previous high as we had predicted. Thus, the support level can be shifted upwards to 3,285. Regarding the upper resistance, attention should be paid to the suppression situation of the historical high at 3,357. If the news over the weekend, especially the statements regarding the trade conflicts and those from Trump, continue to prompt the Federal Reserve to cut interest rates, it will significantly increase the probability of a rise in the price of gold.
From a comprehensive analysis perspective, it is still recommended to focus on going long on pullbacks for the trading operations next week. As for the entry points, the first one is at 3,310. This level serves as a stepped support level for the high-level pullback and also as a retracement point during the rebound. Therefore, it can be used as an entry point to bet on an upward movement. Mainly focus on the suppression at the high point of 3,357 above. If the price continues to break through this level, it is expected that the price can reach up to 3,509.
If your current gold trading performance is not satisfactory and you hope to avoid detours in your investment, you are welcome to communicate and exchange ideas with us!
From a comprehensive analysis perspective, it is still recommended to focus on going long on pullbacks for the trading operations next week. As for the entry points, the first one is at 3,310. This level serves as a stepped support level for the high-level pullback and also as a retracement point during the rebound. Therefore, it can be used as an entry point to bet on an upward movement. Mainly focus on the suppression at the high point of 3,357 above. If the price continues to break through this level, it is expected that the price can reach up to 3,509.
If your current gold trading performance is not satisfactory and you hope to avoid detours in your investment, you are welcome to communicate and exchange ideas with us!
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You❗️CAN and ❗️SHOULD make money in trading!
t.me/+jqmDDXFtAyNhMjZk
"The Golden Key to Financial Freedom"
t.me/+jqmDDXFtAyNhMjZk
Join me, I'll guide you to PROFITABLE TRADING💵!
t.me/+jqmDDXFtAyNhMjZk
t.me/+jqmDDXFtAyNhMjZk
"The Golden Key to Financial Freedom"
t.me/+jqmDDXFtAyNhMjZk
Join me, I'll guide you to PROFITABLE TRADING💵!
t.me/+jqmDDXFtAyNhMjZk
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.