The 4-hour level shows that the gold price turned to high-level fluctuations after testing the upper rail yesterday. There is still room for upward movement after the structure is completed. The 1-hour moving average system shows a golden cross divergent bullish arrangement, indicating that there is sufficient short-term upward momentum. In the morning, the gold price continued to rise and hit a new high for the stage, and the trend maintained a bull-dominated pattern. Although there was a correction in the US market yesterday, it stopped falling and stabilized at the key support level of 3330 and broke through the previous high, further confirming the short-term strength. Therefore, Weng Fuhao believes that once the correction to the upper area of 3335-3330 constitutes a dip opportunity. The intraday operation strategy recommends that the correction is mainly long and the rebound is supplemented by short. The short-term support below focuses on the 3335-3330 range, and the short-term resistance above is 3365-3375.
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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.