Good morning, everyone!
Gold closed yesterday with a T-shaped candlestick. Although there was an intraday recovery after briefly breaching the MA20, the closing price remained below the MA5, indicating continued pressure on the upside.
Today’s opening saw a direct drop in price, suggesting a potential break below key support. Two important levels to monitor today:
Whether the closing price stays above 3355
Whether the intraday support at 3328 holds
If 3328 breaks down, the 3300 level may become the next major battleground between bulls and bears.
Driven by geopolitical news, gold has shown sharp volatility over the past two days. While this increases trading risk, it also presents more opportunities. From a technical perspective, today’s strategy should prioritize selling on rebounds, with buying at lower levels as a secondary approach. As always, stay disciplined and manage risk effectively.
Gold closed yesterday with a T-shaped candlestick. Although there was an intraday recovery after briefly breaching the MA20, the closing price remained below the MA5, indicating continued pressure on the upside.
Today’s opening saw a direct drop in price, suggesting a potential break below key support. Two important levels to monitor today:
Whether the closing price stays above 3355
Whether the intraday support at 3328 holds
If 3328 breaks down, the 3300 level may become the next major battleground between bulls and bears.
Driven by geopolitical news, gold has shown sharp volatility over the past two days. While this increases trading risk, it also presents more opportunities. From a technical perspective, today’s strategy should prioritize selling on rebounds, with buying at lower levels as a secondary approach. As always, stay disciplined and manage risk effectively.
Trade active
Today’s sell-on-rebound strategy has once again proven successful, with gold prices now reaching the designated target zone.If you followed this setup, this would be a good point to consider closing your position and securing profits. If you intend to hold the trade longer, be sure to set a protective stop-loss to guard against potential reversals.
Technically, the price may soon see another short-term rebound. Stay alert to changes in momentum and manage your risk accordingly.
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I’ve created a channel where I’ll be posting market analysis and trading signals.
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
Feel free to join—it makes it easier to follow updates, and you can also contact me directly if you have any questions.
t.me/+h6RM5RdP6X9hNmI8
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.