Gold risk aversion eased on Monday, and gold broke down directly. The bullish trend of gold was temporarily eased. After the decline of gold, the bulls did not have a strong counterattack. It is difficult for the bulls to make a big move for the time being. Gold rebounded and continued to be short. Gold broke down with the easing of risk aversion, and then the hourly moving average of gold began to turn around. The strength of the bullish rise of gold weakened. The resistance of the gold moving average now moved down to the 2685-90 line. Gold rebounded in the US market and went short at highs below the 2685-90 line.
Judging from the current 4-hour analysis chart, the upper side focuses on the short-term suppression of 2785-90, and the lower side focuses on the short-term support of 2658-60.
Judging from the current 4-hour analysis chart, the upper side focuses on the short-term suppression of 2785-90, and the lower side focuses on the short-term support of 2658-60.
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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.