Focus on breaking through the 3310-3360 range
Latest technical analysis of gold prices:
Support level: 3310-3300 US dollars (key psychological level), if it falls below, it may fall to 3280 US dollars.
Resistance level: 3360-3374 US dollars (61.8% Fibonacci retracement level), if it breaks through, it may challenge 3400 US dollars.
As shown in Figure 4h: Triangle structure + range oscillation: 3310-3360.
Operational ideas: short at high levels of the oscillation range, long at low levels.
Upside risks: intensified conflicts in the Middle East, early interest rate cuts by the Federal Reserve, and a sharp drop in the US dollar.
Downside risks: US economy "not landing", easing geopolitical situation, and central banks suspending gold purchases
At present, the future trend of gold prices has emerged: policies + institutions + retail investors have common direction differences.
It is expected that the short-term will be mainly pull-ups and wide fluctuations.
Today, focus on the breakthrough of the 3310-3360 range
Latest technical analysis of gold prices:
Support level: 3310-3300 US dollars (key psychological level), if it falls below, it may fall to 3280 US dollars.
Resistance level: 3360-3374 US dollars (61.8% Fibonacci retracement level), if it breaks through, it may challenge 3400 US dollars.
As shown in Figure 4h: Triangle structure + range oscillation: 3310-3360.
Operational ideas: short at high levels of the oscillation range, long at low levels.
Upside risks: intensified conflicts in the Middle East, early interest rate cuts by the Federal Reserve, and a sharp drop in the US dollar.
Downside risks: US economy "not landing", easing geopolitical situation, and central banks suspending gold purchases
At present, the future trend of gold prices has emerged: policies + institutions + retail investors have common direction differences.
It is expected that the short-term will be mainly pull-ups and wide fluctuations.
Today, focus on the breakthrough of the 3310-3360 range
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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.