Gold's recent trend is still a fluctuating upward trend. Today, it fell back under pressure to 3048 in the Asian session. In the short term, it tested the support of 3025. But the overall trend still maintained a high adjustment. In the case that gold has not formed a turning point at a large level, it is still necessary to be cautious when participating in short selling. In terms of operation, it is still mainly low and long.
Gold's lower support is 3025
Gold's upper resistance is 3055
Operational suggestions
Gold pulls back to the 3030-3025 area, long orders are entered, stop loss 3015. Upward targets are 3040 and 3055.
Gold rushes to the 3045-3050 area to arrange shorts, stop loss 3060. Downward targets are 3035 and 3025.
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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.