The current fundamental environment: tariff issues and geopolitical conflicts are on opposite sides, so there are both bearish and bullish factors for the gold market, which have triggered fierce competition between long and short forces to a certain extent, exacerbating market volatility!
At present, overall, the short forces have the upper hand, but the longs still have a certain ability to fight back! If the short energy is fully released during the process of gold falling to around 2970, then gold may still usher in a wave of rebound opportunities in the short term. First of all, the areas worthy of our participation in trading are mainly concentrated in the following:
1. The short-term support area below: 3010-3000; secondly, the important defensive area for bulls is: 2975-2965.
2. The short-term resistance area above: 3040-3050; secondly, the important defensive area for bears is: 3070-3080.
This is the key area that we must pay attention to in the short-term, and it is also an important reference for our next short-term trading!
The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
At present, overall, the short forces have the upper hand, but the longs still have a certain ability to fight back! If the short energy is fully released during the process of gold falling to around 2970, then gold may still usher in a wave of rebound opportunities in the short term. First of all, the areas worthy of our participation in trading are mainly concentrated in the following:
1. The short-term support area below: 3010-3000; secondly, the important defensive area for bulls is: 2975-2965.
2. The short-term resistance area above: 3040-3050; secondly, the important defensive area for bears is: 3070-3080.
This is the key area that we must pay attention to in the short-term, and it is also an important reference for our next short-term trading!
The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
Trade active
Note: Gold is rebounding. When gold rebounds to the resistance area, we can still continue to short gold. If gold cannot effectively stand above the 3070-3075 area, gold shorts still have the upper hand!The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
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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.