XAUUSD Gold rebounds to 3334-40 and sells short. It rebounds to 3358-65 and covers short. Stop loss is 3373. Target is 3300-3308. Continue to hold if it breaks. Click the link to get accurate trading signals.
GOLD market has repeatedly found support in the 3323–3321 zone. Monitor this level closelyif it breaks below, a sharp decline may follow. Otherwise, it could act as a support barrier. BTCUSDT tradingview.com/x/GDziYlLCXAGUSD
GOLDXAUUSD News: On Friday (May 9) in the European session, the US dollar index was around 100.56; spot gold rebounded after yesterday's plunge, and the current gold price is at $3,328, up 0.43%. There is no economic data to watch during the day, and we will focus on the speeches of many Fed officials; including Fed Governor Barr's speech on artificial intelligence and the job market. Fed Governor Kugler spoke on maximizing employment.
Technical: From the daily level, the long shadow line is currently closed, and the overall bottoming out is showing signs. If the bulls can stabilize the 3356 mark again in the evening and achieve an effective closing, the bulls will regain the dominance of the market. The 1-hour cycle structure is likely to be completed, and a K-line combination that stops falling has appeared. In the short term, focus on the upper 3335 line resistance, and look at the 3356 line if it breaks; focus on the 3315 line support below, and look at the 3300 line support if it breaks! Personally, I suggest buying at low levels; GOLD watershed: 3315.