Gold has been fluctuating upward recently, reaching a high of 3058 today. It then weakened under pressure in the Asian session and is currently testing 3026. Overall, it is fluctuating upward.
On the 4-hour line, gold is currently in a correction near the lower track support of the upward channel. The 3030 line of support below, if this position is broken, gold will form a turning and weakening structure in the short term. The 3055-3060 channel middle track resistance above.
At present, gold is in a stage of continuous fluctuation and rise, but it is still necessary to pay attention to the risk of a sharp correction at high levels. In the absence of a turning point in gold in the short term, gold is still mainly low-long, supplemented by high-short.
Operational suggestions
After gold pulls back to the 3020-3025 area and stabilizes, participate in long orders, stop loss 3010. Upward targets 3045 and 3055.
Gold rushes to the 3055-3060 area and tries short orders, stop loss 3070. Downward targets 3030 and 3025.
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Free Signals ：t.me/+HWbck2OfiTtkMGMx
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.