📊After the non-farm payrolls data was released last Friday, it did not have an obvious unexpected impact on the market, and gold overall remained within a range. The daily line finally closed with a cross star pattern.
📊From the technical point of view, the current cross star is more of a repair signal in the process of decline, rather than a reversal signal, indicating that long and short positions are still in the game. In particular, the rebound after the US market last Friday encountered resistance and fell back again, further confirming that the upper pressure is still strong. Although the current daily middle track position provides some support for gold prices, after a long period of range fluctuations, the support strength may gradually weaken.
📊From the perspective of the multi-cycle structure, gold is currently in an obvious downward channel. The short-term rebound has never been able to break through the key resistance. The high point on Friday is only a test of the previous top and bottom conversion position. Although it has been pierced, it is more likely to be a "bull trap wash" behavior. The current main pressure area above is concentrated in the 3265-3270 area, which is still an ideal area for short order layout.
📊In addition, the 1-hour moving average system has formed a dead cross downward short arrangement and continues to diverge downward, indicating that the short-term short trend is obvious. The current gold price is under pressure to fall near 3270, making this area a key turning point for short-term bull-bear game.
📊Overall, the gold price has fallen nearly $300 from its high point to date. Although there have been rebounds during this period, the general trend has not changed. After the rebound, it continued to fall, indicating that the short-selling force is still dominant. The key to whether gold will reverse is whether it can get rid of the new low structure; as long as it is still making new lows, reversal is out of the question.
🟢Upper resistance level: 3265-3270
🔴Lower support level: 3200-3197
✅Intraday trading strategy
🔰Gold Sell: 3260-3265, Stop Loss: 5-8$
Target: 3230-3210, if it breaks, look to 3200
🔰Gold Buy: 3197-3200, Stop Loss: 5-8$
Target: 3220-3230, if it breaks, look to 3240
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
✅The market operation follows the trend, and the trend operation is the steady way. Don't take chances when the trend is unclear. The market will not repeatedly forgive traders who make mistakes.
📊From the technical point of view, the current cross star is more of a repair signal in the process of decline, rather than a reversal signal, indicating that long and short positions are still in the game. In particular, the rebound after the US market last Friday encountered resistance and fell back again, further confirming that the upper pressure is still strong. Although the current daily middle track position provides some support for gold prices, after a long period of range fluctuations, the support strength may gradually weaken.
📊From the perspective of the multi-cycle structure, gold is currently in an obvious downward channel. The short-term rebound has never been able to break through the key resistance. The high point on Friday is only a test of the previous top and bottom conversion position. Although it has been pierced, it is more likely to be a "bull trap wash" behavior. The current main pressure area above is concentrated in the 3265-3270 area, which is still an ideal area for short order layout.
📊In addition, the 1-hour moving average system has formed a dead cross downward short arrangement and continues to diverge downward, indicating that the short-term short trend is obvious. The current gold price is under pressure to fall near 3270, making this area a key turning point for short-term bull-bear game.
📊Overall, the gold price has fallen nearly $300 from its high point to date. Although there have been rebounds during this period, the general trend has not changed. After the rebound, it continued to fall, indicating that the short-selling force is still dominant. The key to whether gold will reverse is whether it can get rid of the new low structure; as long as it is still making new lows, reversal is out of the question.
🟢Upper resistance level: 3265-3270
🔴Lower support level: 3200-3197
✅Intraday trading strategy
🔰Gold Sell: 3260-3265, Stop Loss: 5-8$
Target: 3230-3210, if it breaks, look to 3200
🔰Gold Buy: 3197-3200, Stop Loss: 5-8$
Target: 3220-3230, if it breaks, look to 3240
✅Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Short-term trading requires flexibility, timely adjustment of positions, strict risk control, and ensuring that you are not affected by large fluctuations.
✅The market operation follows the trend, and the trend operation is the steady way. Don't take chances when the trend is unclear. The market will not repeatedly forgive traders who make mistakes.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
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.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
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.