✅Today, gold reached a high of 3356, and then fell under pressure. During the European session, the market's risk aversion cooled down, and the price of gold continued to fluctuate and fall. After the gap-down opening, the price of gold failed to effectively recover the lost ground, showing signs of continued correction. The US session was closed early due to the holiday, and the volatility may be limited, but the overall weak structure has not changed.
✅From the 4-hour chart, gold was blocked and fell near the upper track of the Bollinger Band, and the price fell to the lowest near the middle track of the Bollinger Band (3323), which was also the starting point of the rise last Friday, and has a certain support significance;
In terms of short-term moving averages, MA5 and MA10 formed a dead cross, indicating that short-term shorts are dominant; the long-term moving average runs above the medium-term moving average, and the overall trend is flat, indicating that the market tends to fluctuate and correct. The RSI indicator fell from the overbought area and is currently running near the neutral area, indicating that there is still room for downward movement.
✅From the 1-hour chart, gold has twice surged to 3365 in the short term and then fell back under pressure, forming an obvious double-top pressure; the current rebound pressure is at 3342, corresponding to the downward trend line pressure; if the 3320 support is lost, the further downward target may point to the 3300 integer mark.
🔴Upper resistance: 3342-3350 - short-term rebound suppression zone, which can be used as a reference for short orders;
🟢Lower support: 3300-3305 - previous key support, pay attention to whether it can effectively stop the decline.
✅Intraday trading strategy:
🔰If the rebound reaches 3342-3350 area and encounters resistance, you can arrange short orders with a light position and set the stop loss above 3356;
🔰If it breaks below the 3320 support, the short momentum may be further strengthened and you can follow the trend;
🔰If it falls to 3300 area without breaking and a stop decline signal appears, you can try to go long with a light position
✅From the 4-hour chart, gold was blocked and fell near the upper track of the Bollinger Band, and the price fell to the lowest near the middle track of the Bollinger Band (3323), which was also the starting point of the rise last Friday, and has a certain support significance;
In terms of short-term moving averages, MA5 and MA10 formed a dead cross, indicating that short-term shorts are dominant; the long-term moving average runs above the medium-term moving average, and the overall trend is flat, indicating that the market tends to fluctuate and correct. The RSI indicator fell from the overbought area and is currently running near the neutral area, indicating that there is still room for downward movement.
✅From the 1-hour chart, gold has twice surged to 3365 in the short term and then fell back under pressure, forming an obvious double-top pressure; the current rebound pressure is at 3342, corresponding to the downward trend line pressure; if the 3320 support is lost, the further downward target may point to the 3300 integer mark.
🔴Upper resistance: 3342-3350 - short-term rebound suppression zone, which can be used as a reference for short orders;
🟢Lower support: 3300-3305 - previous key support, pay attention to whether it can effectively stop the decline.
✅Intraday trading strategy:
🔰If the rebound reaches 3342-3350 area and encounters resistance, you can arrange short orders with a light position and set the stop loss above 3356;
🔰If it breaks below the 3320 support, the short momentum may be further strengthened and you can follow the trend;
🔰If it falls to 3300 area without breaking and a stop decline signal appears, you can try to go long with a light position
✅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.