The price of gold remained relatively stable intraday with a slight increase, as the previous bearish momentum has not yet been fully released. After a rebound in gold, it is recommended to consider short selling at high levels.
The chart shows a 4-hour gold price trend.
There are several reasons for bearish sentiment towards gold:
Gold consolidated temporarily yesterday, and if it continues to be under pressure in the short term, the bearish trend may continue.
According to the updated wave trading system, the second wave C is currently in progress, and the previous low point may not be sustained, so the support level for the first round of upward movement will be considered in the future.
Intraday resistance is between 1822-1829, while support is between 1804-1786.
The chart shows a 4-hour gold price trend.
There are several reasons for bearish sentiment towards gold:
Gold consolidated temporarily yesterday, and if it continues to be under pressure in the short term, the bearish trend may continue.
According to the updated wave trading system, the second wave C is currently in progress, and the previous low point may not be sustained, so the support level for the first round of upward movement will be considered in the future.
Intraday resistance is between 1822-1829, while support is between 1804-1786.
Note
Take profit position:1813Note
Enter:1830Note
continue to holdNote
The fluctuation of the buying point should not cause undue concern.Note
1830 ProfitableNote
Keep going, this wave is for short-term backsteppingNote
Everyone can enter the discussion channel and communicate at any timeNote
when patience is tested
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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.
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.