Currently, both the bullish and bearish forces in the gold market are fiercely competing within the range of 3260-3370. The hourly chart shows a sideways trend, while the daily chart indicates a struggle around the short-term moving averages. In the early morning, the price of gold dropped to 3305 and then rebounded to 3324. The trend during the European trading session is crucial. If the weakness persists, one may consider shorting on the pullback before the US trading session. The upper resistance is at 3355-3360, and the lower support is at 3280-3275.
Technically, an embryonic head-and-shoulders bottom has formed on the hourly chart (left shoulder at 3280, bottom at 3260, right shoulder at 3265). Whether the neckline at 3370 can be broken will determine the upward trend. A W-bottom pattern is being brewed on the 4-hour chart, and its confirmation depends on whether the double-top resistance at 3370 can be broken. Otherwise, the price of gold will continue to fluctuate within the range of 3370-3260.
XAUUSD
sell@3330-3340
tp:3300-3290
Investment itself is not risky; it is only when investment is out of control that risks occur. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.
Technically, an embryonic head-and-shoulders bottom has formed on the hourly chart (left shoulder at 3280, bottom at 3260, right shoulder at 3265). Whether the neckline at 3370 can be broken will determine the upward trend. A W-bottom pattern is being brewed on the 4-hour chart, and its confirmation depends on whether the double-top resistance at 3370 can be broken. Otherwise, the price of gold will continue to fluctuate within the range of 3370-3260.
XAUUSD
sell@3330-3340
tp:3300-3290
Investment itself is not risky; it is only when investment is out of control that risks occur. When trading, always remember not to act on impulse. I will share trading signals every day. All the signals have been accurate without any mistakes for a whole month. No matter what gains or losses you've had in the past, with my help, you have the hope of achieving a breakthrough in your investment.
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We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+yWjb0JJb8NA3YzFk
t.me/+yWjb0JJb8NA3YzFk
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.