✅The gold price rose to 3033 (Fibonacci 61.8% retracement level) during the European session and then fell back quickly, confirming the exhaustion of short-term rebound momentum and forming a secondary high point structure.
✅The current price is running below the short-term moving average system (MA5/MA10), and MA5 crosses below MA10 to form a dead cross, and the technical short position is strengthened.
🔴Resistance level: 3020-3025 (MA20 moving average + previous high and low overlap) constitutes a dense selling pressure area;
🟢Support level: 2999-2980 (Friday's low + weekly neckline) is the last line of defense for bulls. If it is lost, the downward space will be opened to the 2950-2930 area.
✅Trading strategy:
Short: Short in batches when the price rebounds to around 3016-3020, stop loss 3055, target around 3005-3000, break to see 2890
Long: Long in batches when the price falls back to around 2990-2893, target around 3000-3005, break to see 3010
🔹Trading strategies are time-sensitive. We will provide VIP members with real-time and accurate trading strategies based on market changes. Stay tuned🤝
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✅Key price reference during the Asia-Europe session🔴Upper resistance level: 3020-3025
🟢Lower support level: 2999-2980
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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.
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.