📌Fundamentals:
[Reference: U.S.-Ukrainian mining agreement, Russia-Ukraine peace talks, Japanese interest rate announcement, economic data contradictions and differences in Federal Reserve policy]
[Data: Pay attention to today’s U.S. ISM manufacturing PMI data and Friday’s non-agricultural report]
📊Technical aspects:
Gold, the price of this round has fallen from the historical high of 3500. After the first round of selling to 3260, it rebounded and repaired 3370; it rebounded to 3358 during the week and then weakened again. The Asian market opened with a rapid sell-off below 3260 and is now trading around 3234; the short position in each cycle is good, and the pre-non-agricultural market continues to be bearish. The target is adjusted to the parallel attack and defense range of 3193-3168.
Short-term resistance 3235-3240, strong resistance 3246-3250, 3260 is not expected to arrive; short-term support 3220, strong support 3210-3194.
🎯Practical strategy:
Recommendation to short on rebound: short around 3240-3250, target 3220-3200.
[Reference: U.S.-Ukrainian mining agreement, Russia-Ukraine peace talks, Japanese interest rate announcement, economic data contradictions and differences in Federal Reserve policy]
[Data: Pay attention to today’s U.S. ISM manufacturing PMI data and Friday’s non-agricultural report]
📊Technical aspects:
Gold, the price of this round has fallen from the historical high of 3500. After the first round of selling to 3260, it rebounded and repaired 3370; it rebounded to 3358 during the week and then weakened again. The Asian market opened with a rapid sell-off below 3260 and is now trading around 3234; the short position in each cycle is good, and the pre-non-agricultural market continues to be bearish. The target is adjusted to the parallel attack and defense range of 3193-3168.
Short-term resistance 3235-3240, strong resistance 3246-3250, 3260 is not expected to arrive; short-term support 3220, strong support 3210-3194.
🎯Practical strategy:
Recommendation to short on rebound: short around 3240-3250, target 3220-3200.
Trade active
According to the trading plan, the short-term resistance near 3240 is strong. We short gold near 3235. Gold successfully reaches the target level of 3320. We close the position manually and lock in profits in time. If you follow my trading strategy, I believe you will also get satisfactory trading results.Trade closed: target reached
Gold still couldn't withstand the pressure from the bears and finally fell below the previous low of 3260. Now it is still falling to the lowest point of 3214. There is still room below. Strong bears should not expect the rebound to go too high. I have given many opportunities for short selling in recent days, and the short positions have been making huge profits. Now let's look at the short-term support near 3204-13. If the bears successfully stop here, then a rebound is necessary. After all, the technical side also needs to be adjusted and repaired. I emphasize again not to expect the rebound to go far. The difficulty of 3300 has begun to emerge.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
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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.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
Related publications
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.