Technical analysis:
Gold rebounded after hitting 3333 overnight. So far, it has reached 3361. However, it can be clearly seen from the rebound process that the rebound is not strong, so I think the rebound space may not be too high. In the short term, it faces resistance in the 3365-3375 area. The strong resistance above the 3390-3400 area still exists, so it may be difficult for bulls to make a major breakthrough in the short term; and the support area below in the short term is in the 3340-3330 area, and the important support is in the area around 3320;
Trading strategy:
Consider shorting gold in the 3365-3375 area, TP: 3350-3340
Gold rebounded after hitting 3333 overnight. So far, it has reached 3361. However, it can be clearly seen from the rebound process that the rebound is not strong, so I think the rebound space may not be too high. In the short term, it faces resistance in the 3365-3375 area. The strong resistance above the 3390-3400 area still exists, so it may be difficult for bulls to make a major breakthrough in the short term; and the support area below in the short term is in the 3340-3330 area, and the important support is in the area around 3320;
Trading strategy:
Consider shorting gold in the 3365-3375 area, TP: 3350-3340
Trade active
As expected, gold fell back after reaching 3372, which just activated our gold short trade. At present, our short position has made a very good profit. Did you follow me to short gold?Trade closed: target reached
Gold fell sharply in the short term and successfully hit TP: 3350. I easily made a profit of 200pips in this gold short transaction. Did you follow me to short gold?
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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.
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.