Latest gold analysis
The overall trend of gold is still in the upward channel. The current trend is mainly to do more on the pullback, but we need to pay attention to the upper resistance pressure. In the short term, it was blocked and fell back at the 2947 line. It is currently testing the support near 2930. If this position stabilizes, you can consider going long, and the upper targets are 2942 and 2950.
For the short side, it is still not advisable to rush to short before gold falls below the upward channel. The ideal short intervention area is around 2915. If it rebounds to the 2925-2930 range under pressure, you can consider shorting, and the lower target is around 2905-2912.
Overall, the current trend is mainly to do more at low levels, and we need to pay attention to whether the 2930 support is effective; if the channel is broken, the lower space may be further opened, and the short-selling idea can be gradually followed up.
For the short side, it is still not advisable to rush to short before gold falls below the upward channel. The ideal short intervention area is around 2915. If it rebounds to the 2925-2930 range under pressure, you can consider shorting, and the lower target is around 2905-2912.
Overall, the current trend is mainly to do more at low levels, and we need to pay attention to whether the 2930 support is effective; if the channel is broken, the lower space may be further opened, and the short-selling idea can be gradually followed up.
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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.