After gold rose to 3056 last week, the market adjusted horizontally in the range of 3025-3056. Until Friday, the head and shoulders top pattern was formed and the price fell to 3000 points to support and rebound.
In the current structure, gold rushed to repair, but the step-by-step rising structure has not been broken. The support area below is 3000-2980. If this area breaks, gold is expected to return to the 2960 line below. From the hourly line, gold is in a downward structure in the short term, with highs decreasing successively, and the resistance of 3026-3030 above is under pressure. In the short term, it is still in a downward rebound repair market.
Operational suggestions: The overall trend of gold has not changed. Pay attention to the rebound repair pressure in the short term.
Gold 3030-3026 area short position layout, stop loss 3040. Downward target 3010, 3000. Further break pay attention to 2880.
Gold 3000-3005 area long position layout, stop loss 2990. Upward target 3025, 3030. Further breakout focus on 3055.
Trade active
Gold rebounded near 3030 during the day. If the rebound does not stabilize at 3030, the upper 3036-3038 range will be under pressure, and we can go short.At present, the gold rebound is still testing the suppression, but the trend is still in the retracement range. The rebound 3030 range continues to look at the downward range.
GOLD sell 3030
sl 3038
tp 3020
tp 3010
Trade closed: target reached
The upward channel of gold's short-term rebound was broken! The lowest price fell to 3019, successfully triggering TP3020.
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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.