After gold broke through the horizontal range, the price continued to rise to 3086. It fell back to 3066 in the European session. It fell into a narrow range in the US session. From the current trend, gold is in the adjustment stage after accelerating its rise, but the overall trend has not shown signs of stagflation. There is still a possibility of further rise in the future.
In the short term, there is resistance at 3086 above. If this position is broken, gold is expected to hit 3100 and 3120.
In the short term, there is support at 3066 below. If this position is broken, the current rising stage of gold will end, or a turning point will be formed. The support near 3050 will be tested below.
In terms of operation, it is recommended to be cautious in shorting gold at the stage when there is no turning point, or to focus on low-long thinking.
Gold pulls back to the 3066-3060 area long order, and the stop loss is based on breaking 3050. Target 3080, 3100.
Gold is shorted with a short-term light position near 3100, and the stop loss is 3110. The decline targets are 3080 and 3070.
In the short term, there is resistance at 3086 above. If this position is broken, gold is expected to hit 3100 and 3120.
In the short term, there is support at 3066 below. If this position is broken, the current rising stage of gold will end, or a turning point will be formed. The support near 3050 will be tested below.
In terms of operation, it is recommended to be cautious in shorting gold at the stage when there is no turning point, or to focus on low-long thinking.
Gold pulls back to the 3066-3060 area long order, and the stop loss is based on breaking 3050. Target 3080, 3100.
Gold is shorted with a short-term light position near 3100, and the stop loss is 3110. The decline targets are 3080 and 3070.
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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.