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Gold fell and broke through, continue to be bearish on gold After gold rebounded and came under pressure at 2350 resistance, it fell directly, and then fell below a new low. Gold broke through and fell, and short-term bulls were weak. The 30-minute moving average of gold has formed a dead cross downward short position. The 30-minute gold has formed a downward trend. It has rebounded weakly along the downward trend line. Now the resistance of the downward trend line is just around 2341.
TVC:GOLDShort
by Donald-king
26/3. Risk aversion has cooled, will gold fall sharply? News: The United Nations Security Council passed a resolution clearly calling for an immediate ceasefire in Gaza and the release of all hostages. Demands an immediate ceasefire during the Muslim fasting month of Ramadan, which ends in two weeks, and the release of all hostages held by Hamas in an attack on southern Israel on October 7 last year. The deadline ends on April 9 Gold has retreated due to the impact of geopolitics. The lowest level reached 2167. After the start of the Asian session, gold prices continued to impact upward. This proves that the bullish trend in the market is still relatively strong. Currently located at the 2172 line. On the other hand, the U.S. dollar fluctuated and fell from highs. The largest hedge funds may also abandon the United States and invest in Europe. It has also been pointed out that the US dollar is overvalued. The U.S. dollar index is currently above 104. Although the short-term ceasefire in Gaza has reduced risk aversion for gold. Not conducive to rising gold prices. But the overvaluation of the U.S. dollar is undoubtedly a support for gold. Technically, gold has shown a bullish trend. Although there is no news boost, technical support is still strong. Observe the 2165-2162 line below. If the upper position stabilizes at 2175, then the probability of rising to above 2183 is very high. Of course, this also requires the U.S. dollar to take advantage of the trend. In terms of trading, buying low is still the main trend today. The entire transaction is based on actual conditions. 2169-2166 buy TP2177-2183 SL2159 Transactions are for reference only. If you have any questions please leave me a message. Like following live trading signals. Remember to stay tuned.
TVC:GOLDLong
by AA_Jack