Information summary:
The conflict between Iran and Israel has entered the fifth day, Tel Aviv air raid alarms are frequent, and the fire of oil tankers in the Strait of Hormuz has exacerbated the panic of energy transportation, and safe-haven buying supports gold prices;
Trump's contradictory statement of "peace talks + toughness" has exacerbated the market's differences on the direction of the conflict, and risk aversion has fluctuated repeatedly.
In the early Asian session, spot gold fluctuated narrowly at $3,375, continuing the stalemate under the geopolitical conflict and the game of the US dollar. As the "king of safe havens", gold has recently bottomed out and rebounded based on the tension in the Middle East, and the current price fluctuates around 3,395.
Market analysis:
The four-hour chart shows that the moving average is sticking to wait for a breakthrough in the direction, and the short-term moving average is sticking to $3,380. The RSI indicator fluctuates around 50, suggesting that a breakthrough will be ushered in after a narrow consolidation; the lower rail support of the rising channel moves up to $3,370, and if it fails, it may test $3,350.
At present, the price is repeatedly testing the resistance position of 3400. If the price stands above this position, it may continue to rise to around 3430. If it breaks the support of 3370 US dollars, it will look to 3360 US dollars.
Operation strategy:
Short near 3400, stop loss 3410, profit range 3370-3365.
If the price falls back to around 3370, you can try to go long, and the profit point is around 3390.
The conflict between Iran and Israel has entered the fifth day, Tel Aviv air raid alarms are frequent, and the fire of oil tankers in the Strait of Hormuz has exacerbated the panic of energy transportation, and safe-haven buying supports gold prices;
Trump's contradictory statement of "peace talks + toughness" has exacerbated the market's differences on the direction of the conflict, and risk aversion has fluctuated repeatedly.
In the early Asian session, spot gold fluctuated narrowly at $3,375, continuing the stalemate under the geopolitical conflict and the game of the US dollar. As the "king of safe havens", gold has recently bottomed out and rebounded based on the tension in the Middle East, and the current price fluctuates around 3,395.
Market analysis:
The four-hour chart shows that the moving average is sticking to wait for a breakthrough in the direction, and the short-term moving average is sticking to $3,380. The RSI indicator fluctuates around 50, suggesting that a breakthrough will be ushered in after a narrow consolidation; the lower rail support of the rising channel moves up to $3,370, and if it fails, it may test $3,350.
At present, the price is repeatedly testing the resistance position of 3400. If the price stands above this position, it may continue to rise to around 3430. If it breaks the support of 3370 US dollars, it will look to 3360 US dollars.
Operation strategy:
Short near 3400, stop loss 3410, profit range 3370-3365.
If the price falls back to around 3370, you can try to go long, and the profit point is around 3390.
The gold market is my stage, and turning the market's fluctuations into our interests is my skill.
Welcome everyone to join my signal exchange group: t.me/+5W95IZ8-mFUwY2Zh
Welcome everyone to join my signal exchange group: t.me/+5W95IZ8-mFUwY2Zh
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.
The gold market is my stage, and turning the market's fluctuations into our interests is my skill.
Welcome everyone to join my signal exchange group: t.me/+5W95IZ8-mFUwY2Zh
Welcome everyone to join my signal exchange group: t.me/+5W95IZ8-mFUwY2Zh
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.