Gold Spot / U.S. DollarUpdated Gold has made a profit of 300% this week
Technical analysis of gold: Gold is currently in a range of fluctuations. It was under pressure near 2650 yesterday and then fluctuated and retreated, but it rose sharply again in the morning near 2634. It is still in the stage of rebound correction after the plunge, showing a range of fluctuations. The short-term trend is still strong, but it is unlikely to form a unilateral trend of rising. The main support is still the unstable factor of the escalation of regional situation. The inflation premium of currency depreciation is long-term, but the risk aversion sentiment is short-term and fast. After the plunge at the beginning of this week, the price of gold has basically been in a state of low correction, and there has been a certain decline during the period. At present, the large-range triangular wedge consolidation is very obvious, and the short-term trend of the long and short roller coaster has no continuity. After the early morning trading today, it is a good opportunity to go short. The white plate pulled up falsely and pierced 2665-2670 during the day to directly go short. The upper rail pressure of the range is given to go short! The short-term price will also increase in volume and wait for the point to be touched before the short enters the market!
From the technical trend, gold will most likely continue to fluctuate within the current range in the near future, and the operation will be mainly short-term quick entry and exit. The sharp rise in the early trading is not expected to continue. Now the hourly chart of gold has shown a big positive resistance line pattern, and the current price is close to the edge of the previous upward trend line, and there are signs of a short-term decline! So there is nothing to hesitate about the operation. Continue to short gold at the current price of 2665, and continue to look at the 2640-2635 area in the short term.
From the technical trend, gold will most likely continue to fluctuate within the current range in the near future, and the operation will be mainly short-term quick entry and exit. The sharp rise in the early trading is not expected to continue. Now the hourly chart of gold has shown a big positive resistance line pattern, and the current price is close to the edge of the previous upward trend line, and there are signs of a short-term decline! So there is nothing to hesitate about the operation. Continue to short gold at the current price of 2665, and continue to look at the 2640-2635 area in the short term.
Trade active
It is not difficult to make money in this market. It is very simple if you have the ability to analyze the market and the ability to manage risks. However, if you do not have these abilities, I advise you not to trade blindly, because the cost of trial and error is very high. I do not want you to lose money in vain. If you want to make a stable profit, you can contact me and I will use my knowledge to help you.
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.