Gold continues last week's downward correction trend. Until the US session, it fell again in large volume. From the hourly line, gold has formed a head and shoulders top breaking structure. And the high point has also formed a second weakening.
The upper 3025 line of resistance, if this position is broken, gold is expected to rise again. This means that the 3025-3030 area may form a strong stagnation in the future.
The lower 3000 line of support, if this position is broken, gold will fall further, and test the 2980 line below. Further support at 2955 is also the previous long-short dividing line.
From the current trend, gold rebounds and repairs again. The structure is weak. But the overall trend is still bullish. It is recommended to participate in the short-term rebound in the 3025-3020 area.
For long orders, pay attention to the support of the 3000 line below. If there are signs of stabilization and rebound, participate in the long order layout.
Trade active
Gold fell as expected, testing the 3000 support line below.Further support 2980
and the long-short dividing line 2956
GOLD buy 3000-3002
limit 2990 buy
sl 2980
tp 3015
tp 3022
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Free Signals ：t.me/+HWbck2OfiTtkMGMx
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.