đź“ŚFundamentals:
From the news perspective: the United States released a trade agreement and tariff reduction signal, the trade situation eased, resulting in a decline in market demand for safe-haven assets, triggering a sell-off in gold; the situation between Russia and Ukraine weakened, and the dawn of peace talks was approaching, which was a negative factor for gold; at the same time, the situation between India and Pakistan heated up, which supported the gold price to a certain extent.
đź“ŠTechnical aspects:
In the past few days, we have been emphasizing that gold should be bearish, and reminded that gold is likely to break and fall sharply.
From a technical perspective: the lower track of the Bollinger band at the 4-hour level broke through, and there was no sign of stabilization. The support of $3,250/ounce turned into pressure, the downward channel has been opened, and MACD has walked out of the hovering area, and the downward momentum has been strengthened; at the daily level, the MACD indicator is dead cross running, and the KDJ indicator enters the oversold area, showing that the short-selling force has an absolute advantage.
The short-term short-selling force of spot gold is strong, and the gold price is in a downward trend. Before there is an obvious reversal signal, the short-term trend is still bearish.
🎯Practical strategy:
Recommendation to short on rebound: short around 3235-3245, target 3220-3200.
From the news perspective: the United States released a trade agreement and tariff reduction signal, the trade situation eased, resulting in a decline in market demand for safe-haven assets, triggering a sell-off in gold; the situation between Russia and Ukraine weakened, and the dawn of peace talks was approaching, which was a negative factor for gold; at the same time, the situation between India and Pakistan heated up, which supported the gold price to a certain extent.
đź“ŠTechnical aspects:
In the past few days, we have been emphasizing that gold should be bearish, and reminded that gold is likely to break and fall sharply.
From a technical perspective: the lower track of the Bollinger band at the 4-hour level broke through, and there was no sign of stabilization. The support of $3,250/ounce turned into pressure, the downward channel has been opened, and MACD has walked out of the hovering area, and the downward momentum has been strengthened; at the daily level, the MACD indicator is dead cross running, and the KDJ indicator enters the oversold area, showing that the short-selling force has an absolute advantage.
The short-term short-selling force of spot gold is strong, and the gold price is in a downward trend. Before there is an obvious reversal signal, the short-term trend is still bearish.
🎯Practical strategy:
Recommendation to short on rebound: short around 3235-3245, target 3220-3200.
Trade active
Seize the band, enter the market at key long and short points, and successfully lock in profits. Remember not to be greedy in trading, and close when you see a good outcome. I will keep a close eye on the rebound strength and wait for the next perfect entry opportunity. I wish everyone can make steady profits in trading!Trade closed: target reached
According to the trading strategy, the short-term resistance near 3235-3240 is still strong, so we arrange to short gold near 3225-3230. After gold fluctuates in a narrow range, it touches our target position. We close the position manually and obtain profits in time. Friends who follow our trading plan should also have good returns. Wait for the next entry opportunity.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
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.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
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.