Tuesday Market Analysis and Signals
Gold fell 50$ from the all-time high of 2758 yesterday. The four-hour chart shows the initial head and shoulders top, with the left shoulder at 2740 and the right shoulder waiting for confirmation. After this pattern ends, gold shows a signal of being blocked, and a wave of correction is coming! Today, gold rebounded and began to short, and there is still a need for further correction!
Gold fell from a high yesterday, and perhaps the trend is about to turn short. After a continuous rise in gold, gold bulls were released, and gold bears began to perform. Gold shorted below 2740 in the Asian session!
The 1-hour moving average of gold began to turn around, and it broke through the support of two moving averages in succession. The gold bulls temporarily declared an end. Now the moving average resistance is near 2738. Gold fell under pressure from a high level, and the market has turned short. The strength of gold rebound is limited, and the rebound is an opportunity for shorts. .
Trading strategy:
Focus on going long near yesterday's low of 2708. Pay attention to the resistance of the top and bottom conversion position 2739 above.
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Gold fell from a high yesterday, and perhaps the trend is about to turn short. After a continuous rise in gold, gold bulls were released, and gold bears began to perform. Gold shorted below 2740 in the Asian session!
The 1-hour moving average of gold began to turn around, and it broke through the support of two moving averages in succession. The gold bulls temporarily declared an end. Now the moving average resistance is near 2738. Gold fell under pressure from a high level, and the market has turned short. The strength of gold rebound is limited, and the rebound is an opportunity for shorts. .
Trading strategy:
Focus on going long near yesterday's low of 2708. Pay attention to the resistance of the top and bottom conversion position 2739 above.
More signals will sent to the VIP group
Trade active
Gold is running as planned, selling at around 2739 for profit 
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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.
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.