Gold fell under pressure around 3384 in the early trading on Thursday, and then rebounded after falling to 3361. The highest in the European session reached around 3403, and then fell back due to resistance. The US session accelerated its decline, reaching a minimum of 3339, and then rebounded in the late trading, closing in the negative on the daily line. The daily trend continued to fluctuate in a positive and negative cycle. On Thursday, it rose and fell, closed in the negative and fell below the 5-day moving average.
Today, we will focus on the resistance position of 3405. Whether it can break through will determine the strength of the bulls in the future market. The risk of continuous negative daily lines cannot be ruled out. The support below is the key points of 3330 and 3300. The 4-hour fluctuation range is locked at 3385-3335. The fluctuation space in the Asian and European sessions is limited. It is recommended to sell high and buy low. For stable trading, it is recommended to go long in the 3340-3350 area. The overall bullish trend has not changed, and the impact of non-agricultural data is limited. It is expected that gold will most likely rise and fall. Remember not to chase the rise and sell the fall, and wait patiently for opportunities.
Steady trading, precise attack!
Today, we will focus on the resistance position of 3405. Whether it can break through will determine the strength of the bulls in the future market. The risk of continuous negative daily lines cannot be ruled out. The support below is the key points of 3330 and 3300. The 4-hour fluctuation range is locked at 3385-3335. The fluctuation space in the Asian and European sessions is limited. It is recommended to sell high and buy low. For stable trading, it is recommended to go long in the 3340-3350 area. The overall bullish trend has not changed, and the impact of non-agricultural data is limited. It is expected that gold will most likely rise and fall. Remember not to chase the rise and sell the fall, and wait patiently for opportunities.
Steady trading, precise attack!
Trade active
Profit is the appropriate standard to test strength. No matter how professional the analysis report is, or how deeply the article reads, it cannot change our goal of pursuing profit. The wise are practical, the foolish fight for fame. Analysts are not writers, and they do not need fancy words to impress their clients. They only need to prove themselves with profits. The market is unpredictable. Excellent analysts try their best to grasp every wave of the market and give back to everyone, so that you can face the market calmly.Trade closed: target reached
As we expected, the impact of non-agricultural data was limited, and the overall structure of gold remained unchanged. After the data was released, the price of gold fell and touched our long order plan. The long orders we arranged successfully entered the market, and then ushered in a rapid rebound. The long orders have been successfully closed and left the market! Congratulations to the brothers who followed the trading plan and reaped good profits.
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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.