📊Today's early trading session saw a strong rise in gold, which was indeed beyond market expectations. It quickly rose to the 3367 line in a short period of time, triggering the market to think about whether the market will reverse. However, from the overall technical structure, the current rebound is more likely to be just a technical repair in the downward trend, rather than a real trend reversal. In particular, the pattern of rapid rise in the early trading session is often prone to a rapid decline after the release of bullish sentiment.
📊From the daily level, gold rose strongly during Tuesday's intraday trading, once breaking through the 3500 mark, but failed to stand firm, indicating that the upper selling pressure is still heavy. The subsequent Wednesday market continued to be weak, closing with a negative line again, forming a two-consecutive negative pattern, which clearly released a signal that the bears are dominant technically.
📊The current 3500 mark constitutes an obvious stage top pressure level, the bears continue to exert pressure at a high level, and the bulls' momentum has obviously weakened.
📊From the 4-hour chart, since the pressure near 3500, gold has been in a volatile downward channel as a whole. The current minimum has fallen back to the 3260 line, and the short-term decline has reached 240 US dollars, showing that the market's center of gravity continues to move downward. Although there was a rebound during the session, the overall upward structure has been destroyed, and the MACD indicator formed a dead cross, indicating that it is still in an adjustment trend in the short term.
🟢Upper resistance level: 3368-3370
🔴Lower support level: 3260-3285
✅Intraday trading strategy
🔰Gold Sell: 3360-3365, Stop Loss: 5-8$
Target: 3320-3300, if it breaks, look to 3260
🔰Gold Buy: 3260-3265, Stop Loss: 5-8$
Target: 3300-3330, if it breaks, look to 3350
✅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.
📊From the daily level, gold rose strongly during Tuesday's intraday trading, once breaking through the 3500 mark, but failed to stand firm, indicating that the upper selling pressure is still heavy. The subsequent Wednesday market continued to be weak, closing with a negative line again, forming a two-consecutive negative pattern, which clearly released a signal that the bears are dominant technically.
📊The current 3500 mark constitutes an obvious stage top pressure level, the bears continue to exert pressure at a high level, and the bulls' momentum has obviously weakened.
📊From the 4-hour chart, since the pressure near 3500, gold has been in a volatile downward channel as a whole. The current minimum has fallen back to the 3260 line, and the short-term decline has reached 240 US dollars, showing that the market's center of gravity continues to move downward. Although there was a rebound during the session, the overall upward structure has been destroyed, and the MACD indicator formed a dead cross, indicating that it is still in an adjustment trend in the short term.
🟢Upper resistance level: 3368-3370
🔴Lower support level: 3260-3285
✅Intraday trading strategy
🔰Gold Sell: 3360-3365, Stop Loss: 5-8$
Target: 3320-3300, if it breaks, look to 3260
🔰Gold Buy: 3260-3265, Stop Loss: 5-8$
Target: 3300-3330, if it breaks, look to 3350
✅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.
✅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.