Hello everyone. Let's discuss the trend of gold this week. If you have a different opinion, you can express your different opinions in the comment area. Yesterday, Monday, retail traders made a record bottom-fishing in US stocks, reversing the 1% drop in the S&P 500 index caused by Moody's downgrading the US credit rating last weekend.
Yesterday, Monday, gold opened at a high point near 3250, but after the US stock market opened, it basically maintained a downward trend.
From the current 1-hour chart, gold has been fluctuating above the 1-hour chart range yesterday, Monday, but there has been a change today. It has continuously fallen below the hourly chart range support position at the opening.
Therefore, from the current point of view, gold is likely to retreat downward today, and the 3200 mark is currently difficult to hold.
Therefore, we must be alert to the possibility of a retracement today. As for the operation, you can rely on the 3220-3225 range to sell, and look at the target to 3180-3158.
Yesterday, Monday, gold opened at a high point near 3250, but after the US stock market opened, it basically maintained a downward trend.
From the current 1-hour chart, gold has been fluctuating above the 1-hour chart range yesterday, Monday, but there has been a change today. It has continuously fallen below the hourly chart range support position at the opening.
Therefore, from the current point of view, gold is likely to retreat downward today, and the 3200 mark is currently difficult to hold.
Therefore, we must be alert to the possibility of a retracement today. As for the operation, you can rely on the 3220-3225 range to sell, and look at the target to 3180-3158.
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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.
Click the link to join the Telegram channel to get detailed free trading signals. The accuracy rate is over 90%：
t.me/+1mjd3acwB4VjMGNk
t.me/+1mjd3acwB4VjMGNk
t.me/+1mjd3acwB4VjMGNk
t.me/+1mjd3acwB4VjMGNk
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.