Gold will recover first and then continue to fall!
Last week's gold market was basically a turning point. Both the daily and weekly lines showed long negative lines at high levels, and also showed short-term top signals. The weekly line closed with positive lines for 10 consecutive weeks, and the bulls are very strong. This wave of rise has not yet shown a peak signal in the overall structure, but only a short-term top has appeared. This week, our short-term gold thinking will follow the bears and we will be bearish first. Last week, it fell a lot, and today, Monday, needs a repair. Gold fell to a low of 2832. At present, 2832 is not the low point of this wave of adjustment. There is a possibility of continuing to refresh this week. Our adjustment target for this wave is 2800 first. This wave of adjustment is related to the strong rise of the US dollar. In addition, there are many positive signals in the situation between Russia and Ukraine that are suppressing gold.
The 4H pattern of gold shows that today's Asian session suppression position is around 2877, and the daily suppression position is 2888. It is also the pattern pressure of the pattern support conversion. Today's gold will not break 2888. The general trend is bearish. The short-term Asian session focuses on the profit of the range of 2854-2877. You can go up in the short term. If you want to look far ahead, try to be bearish at a high altitude.
Support 2854 and 2842, strong support 2832, pressure 2877, strong pressure 2888, and the strength and weakness watershed of the market is 2860.
Operation suggestion
Gold----Sell near 2873, target 2860-2840
The 4H pattern of gold shows that today's Asian session suppression position is around 2877, and the daily suppression position is 2888. It is also the pattern pressure of the pattern support conversion. Today's gold will not break 2888. The general trend is bearish. The short-term Asian session focuses on the profit of the range of 2854-2877. You can go up in the short term. If you want to look far ahead, try to be bearish at a high altitude.
Support 2854 and 2842, strong support 2832, pressure 2877, strong pressure 2888, and the strength and weakness watershed of the market is 2860.
Operation suggestion
Gold----Sell near 2873, target 2860-2840
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Share free trading signals every day, with an accuracy rate of up to 98% and a return rate of over 200%. Please click me to get it
t.me/+T3KTC22K-2BlZmNh
t.me/+T3KTC22K-2BlZmNh
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.