📊This week, the trend of gold has been ups and downs, and the price has been running in a high volatility range. At present, the market is fiercely competing around the cross candlestick pattern as the weekly line is about to close. If it finally closes at a low level, it may indicate that the gold price will continue the adjustment trend next week. Therefore, the strength and weakness of the closing of the weekly line this week will have an important impact on the direction of the market.
📊Today's early trading market once again repeated the rhythm of yesterday. The gold price quickly rose after opening, reaching a high of around 3370, but stopped before this key resistance level, and then turned to fall, and broke through the low point of yesterday's European and American trading in one fell swoop, and rebounded slightly after reaching a low of 3287.
📊From the market point of view, today's gold price fell below the key support point, suggesting that the short-term short-selling force is dominant. The current market focus has shifted to the 3260 line, which is an important low point in the previous downward trend and a short-term long-short watershed. If the gold price effectively falls below this support level, the market may enter a deeper round of adjustment, and the short-selling trend will be further confirmed and expanded.
📊From the hourly chart, yesterday's low was at $3306, and today's rebound just stopped near this position, indicating that this position has turned into a short-term suppression position. Further upper resistance is 3315. If it breaks through, it is necessary to observe the suppression of 3328.
📊In terms of lower support, the first focus is on 3287 touched today. If it is lost, the next key support is the previous low of 3260. Once this position is also broken, the bearish trend will continue to deepen, and the gold price may usher in a deep adjustment at the mid-term level.
📊Today's early trading market once again repeated the rhythm of yesterday. The gold price quickly rose after opening, reaching a high of around 3370, but stopped before this key resistance level, and then turned to fall, and broke through the low point of yesterday's European and American trading in one fell swoop, and rebounded slightly after reaching a low of 3287.
📊From the market point of view, today's gold price fell below the key support point, suggesting that the short-term short-selling force is dominant. The current market focus has shifted to the 3260 line, which is an important low point in the previous downward trend and a short-term long-short watershed. If the gold price effectively falls below this support level, the market may enter a deeper round of adjustment, and the short-selling trend will be further confirmed and expanded.
📊From the hourly chart, yesterday's low was at $3306, and today's rebound just stopped near this position, indicating that this position has turned into a short-term suppression position. Further upper resistance is 3315. If it breaks through, it is necessary to observe the suppression of 3328.
📊In terms of lower support, the first focus is on 3287 touched today. If it is lost, the next key support is the previous low of 3260. Once this position is also broken, the bearish trend will continue to deepen, and the gold price may usher in a deep adjustment at the mid-term level.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
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✅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.