📊Gold overall consolidated and closed flat yesterday, indicating that the momentum of prices weakened during the high-level fluctuations. The current daily trend is in the stage of blunted fluctuations. From the weekly perspective, there is still a need for adjustment. The gold price is sideways at a high level and has not yet formed a clear breakthrough structure. Previously, the neckline of 3200 was effectively broken. The current re-standing on this level is a confirmation of the previous breakout and has certain resistance properties. From the perspective of the adjustment space of the double top structure, the technical side has not yet completed the full correction, and there is room for further adjustment at both the weekly and daily levels.
📊The 4-hour chart shows that gold is in a contraction and fluctuation range. Yesterday, it encountered resistance many times near the upper rail of the Bollinger band (3250 line), and fell back to the middle rail twice in the short term to obtain support, forming a range of back and forth tug-of-war trend. The current price is running between the middle and upper rails of the Bollinger band, and the direction is not yet clear, indicating that the market is still in the stage of oscillation and accumulation.
📊On the 1-hour chart, the short-term moving average shows signs of crossing upward, but the upward momentum is insufficient and the rebound is weak. Yesterday, the price was blocked and fell back continuously at the 3250 line. It rebounded twice in the evening and then fell rapidly to around 3240, indicating that the short-sellers in this area have a strong willingness to defend and the rebound high continues to decrease.
📊In terms of key technical points, the second highest point of 3265 is a strong short-term resistance. If this position cannot be broken, the range consolidation pattern will be maintained. The lower middle track of 3200-3205 is the current support. If it falls below the middle track, it is expected to open up the space for adjustment to the lower track of the Bollinger Band (about 3160-3170). On the contrary, if the price effectively stands above 3255 and stabilizes, it will open up further upward space.
🔴Resistance level 1: 3250-3260
🔴Resistance level 2: 3265-3270
🟢Support level 1: 3205-3200
🟢Support level 2: 3165-3170
✅Intraday trading strategy suggestions:
🔰If the rebound is close to 3240-3250, you can try short positions
🔰 If it falls back to around 3200-3205 and does not effectively fall below 3200, you can try long positions
🔰 If it falls below 3205-3200 and then rebounds, you can follow the trend and short positions
🔰 If it breaks through strongly and stands above 3255, then adjust the strategy to participate in long positions
📊The 4-hour chart shows that gold is in a contraction and fluctuation range. Yesterday, it encountered resistance many times near the upper rail of the Bollinger band (3250 line), and fell back to the middle rail twice in the short term to obtain support, forming a range of back and forth tug-of-war trend. The current price is running between the middle and upper rails of the Bollinger band, and the direction is not yet clear, indicating that the market is still in the stage of oscillation and accumulation.
📊On the 1-hour chart, the short-term moving average shows signs of crossing upward, but the upward momentum is insufficient and the rebound is weak. Yesterday, the price was blocked and fell back continuously at the 3250 line. It rebounded twice in the evening and then fell rapidly to around 3240, indicating that the short-sellers in this area have a strong willingness to defend and the rebound high continues to decrease.
📊In terms of key technical points, the second highest point of 3265 is a strong short-term resistance. If this position cannot be broken, the range consolidation pattern will be maintained. The lower middle track of 3200-3205 is the current support. If it falls below the middle track, it is expected to open up the space for adjustment to the lower track of the Bollinger Band (about 3160-3170). On the contrary, if the price effectively stands above 3255 and stabilizes, it will open up further upward space.
🔴Resistance level 1: 3250-3260
🔴Resistance level 2: 3265-3270
🟢Support level 1: 3205-3200
🟢Support level 2: 3165-3170
✅Intraday trading strategy suggestions:
🔰If the rebound is close to 3240-3250, you can try short positions
🔰 If it falls back to around 3200-3205 and does not effectively fall below 3200, you can try long positions
🔰 If it falls below 3205-3200 and then rebounds, you can follow the trend and short positions
🔰 If it breaks through strongly and stands above 3255, then adjust the strategy to participate in long positions
✅𝐃𝐚𝐢𝐥𝐲 𝟐-𝟒 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐒𝐢𝐠𝐧𝐚𝐥𝐬🔥
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
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.
✅𝐃𝐚𝐢𝐥𝐲 𝟐-𝟒 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐒𝐢𝐠𝐧𝐚𝐥𝐬🔥
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
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.