Analysis of gold trend: From the perspective of market sentiment, interest-free gold as a safe-haven asset has performed strongly this year, with prices soaring by nearly $700 and hitting record highs several times. However, the recent optimistic expectations of easing global economic and trade relations have boosted market risk appetite, and the equity market has generally performed positively. Some funds have flowed out of safe-haven assets such as gold and turned to risky assets, which is also the main psychological factor under pressure on gold prices. If market risk appetite continues to improve, global economic and trade relations further ease, and the US dollar strengthens, gold prices may face greater downward pressure. From a technical point of view, the gold price needs to effectively fall below the $3,265-3,260 range in the short term before a larger correction downward may be confirmed. Once confirmed to fall below, the gold price may quickly fall to the 50% retracement level near $3,225, further pointing to the $3,200 mark. If $3,200 is lost, it will suggest that gold may have peaked in the short term.
Gold opened higher in the Asian session on Monday and continued to fall last week after hitting 3336. The idea of the Asian session was to directly bearish at the analysis point of 3277. After hitting the lowest point of 3268, it fluctuated upward. The European session also fell to 3273 and then rebounded. The highest point in the US session just reached 3336 again, a standard bottoming and rebounding trend. Since it is an adjustment structure, let's re-analyze the idea. The gold price fell at 3500 and rebounded at 3260 last Wednesday. The rhythm was volatile. It rebounded above 3260 many times below and did not cross the first rebound high of 3367 above.
Today, we mainly focus on the closing price. If it stands firmly at the 3313 line, we will adjust our thinking on Tuesday. On the contrary, it will fall back after encountering resistance at 3336, today's opening high, and go to 3278. On Tuesday, we will continue to look at the idea of swinging and falling. Now it is the end of the market, and the market is also falling from a high.
Gold opened higher in the Asian session on Monday and continued to fall last week after hitting 3336. The idea of the Asian session was to directly bearish at the analysis point of 3277. After hitting the lowest point of 3268, it fluctuated upward. The European session also fell to 3273 and then rebounded. The highest point in the US session just reached 3336 again, a standard bottoming and rebounding trend. Since it is an adjustment structure, let's re-analyze the idea. The gold price fell at 3500 and rebounded at 3260 last Wednesday. The rhythm was volatile. It rebounded above 3260 many times below and did not cross the first rebound high of 3367 above.
Today, we mainly focus on the closing price. If it stands firmly at the 3313 line, we will adjust our thinking on Tuesday. On the contrary, it will fall back after encountering resistance at 3336, today's opening high, and go to 3278. On Tuesday, we will continue to look at the idea of swinging and falling. Now it is the end of the market, and the market is also falling from a high.
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Congratulations to my friends who followed the trading strategy for hitting TP again. I hope everyone can gain something and gain some insights from my article. After all, the article has a lag. Friends who see it may not be able to place orders in time. After placing orders, they may not know how to deal with them later. Only the current price strategy can truly escort. Investment itself carries risks. For strong traders, capital security comes first, followed by operational risks, and finally how to make a profit! Regardless of whether the views and strategies of the article are consistent with your opinions, you can come to me to discuss and learn together!Trade closed: target reached
From the current 4-hour analysis, the short-term pressure on gold is 3343-50, and the important pressure on 3360-66. The operation is still mainly short-selling if the rebound does not break. Below, we first pay attention to the short-term support of 3310-15, and the important support of 3260-68. In the middle position, we should watch more and do less, and be cautious in chasing orders, and wait patiently for key points to enter the market. I will remind you of the specific operation strategy during the trading session, so please pay attention to it in time.The three intraday orders were perfectly and steadily grasped. The guidance on gold today on Monday has now ended, and it is still perfect overall. Today's gold trend is perfectly in line with our analysis over the weekend. Friends who follow me know that over the weekend we gave a short-selling strategy and ideas for the continuation of the rebound at the 3310-20 line. On Monday, the first line fell back and adjusted. We gave a direct long at the 3280-90 line, and perfectly reached the 3290-95 first-line target. We once again gave a short at the 3302 line and a target at the 3288 line. All were notified to take profits. Facts speak louder than words, and actual records can be verified. If your current gold operation is not ideal, I hope it will help you avoid detours in your investment. Welcome to communicate with us!
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For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Join the Telegram group and start your journey of making https://money.https://t.me/TP_Dani
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.