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Today, gold is in a consolidation and downward trend. As of now, the lowest price has reached around 3296, and it is still consolidating around 3300.
From the current point of view, gold is indeed in a bearish trend.
However, don't chase orders, this is very dangerous.
Because from the hourly chart, although the low point of gold is constantly refreshing, the key hourly chart support range position has not yet broken.
So, here I may think that gold may still be tempting to short in the short term.
There is still a possibility of a pullback on the hourly chart.
From the current point of view, before the range is broken, there is still a probability of a pullback to 3320-30.
So, in the next operation, I suggest that you can pay attention to 3320-30.
But there is no guarantee that it will definitely pull back, because it is indeed in a bearish trend now, and it may also go down directly.
However, if it does rebound again, as long as it does not stabilize at 3330 again.
Then, we can short at 3320-30.
On the contrary, if the rebound breaks directly above 3340, then be careful.
The rebound may turn into a reversal, and it is very likely to replicate the rhythm at the beginning of last week.
Today, gold is in a consolidation and downward trend. As of now, the lowest price has reached around 3296, and it is still consolidating around 3300.
From the current point of view, gold is indeed in a bearish trend.
However, don't chase orders, this is very dangerous.
Because from the hourly chart, although the low point of gold is constantly refreshing, the key hourly chart support range position has not yet broken.
So, here I may think that gold may still be tempting to short in the short term.
There is still a possibility of a pullback on the hourly chart.
From the current point of view, before the range is broken, there is still a probability of a pullback to 3320-30.
So, in the next operation, I suggest that you can pay attention to 3320-30.
But there is no guarantee that it will definitely pull back, because it is indeed in a bearish trend now, and it may also go down directly.
However, if it does rebound again, as long as it does not stabilize at 3330 again.
Then, we can short at 3320-30.
On the contrary, if the rebound breaks directly above 3340, then be careful.
The rebound may turn into a reversal, and it is very likely to replicate the rhythm at the beginning of last week.
Trade active
The fluctuation is small, we need to continue to wait for the data to recoverTrade closed: target reached
I said that gold must be tempting us to short, so we are decisively bullish and have already started to make profits
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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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.
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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.