📰 Impact of news:
1. Economist: The Federal Reserve may cut interest rates sharply in December
2. Lee Jae-myung, candidate of the Democratic Party of Korea, was elected president of South Korea
📈 Market analysis:
Currently, the gold price is in a consolidation pattern, showing an overall volatile pattern during the day. The hourly Bollinger Bands are opening downward, and the MACD indicator is running in a dead cross. In the short term, the bears have a certain advantage. However, observing the 4H level, it can be found that the RSI indicator crosses when entering the overbought area, suggesting that the risk of a correction in the short term has increased. For evening operations, it is recommended to wait for the gold price to stabilize before entering the market, focusing on the important support of 3335-3325. If it obtains effective support and stabilizes in this range, the gold price may resume its upward trend. If it falls below 3325, the bullish momentum will be weakened. Therefore, it is recommended to wait for a pullback to 3335-3325 to go long in the US market, and look to 3350-3370 in the short term.
🏅 Trading strategies:
BUY 3335-3325
TP 3350-3370-3400
If you agree with this view, or have a better idea, please leave a message in the comment area. I look forward to hearing different voices.
GOLD XAUUSD XAUUSD XAUUSD XAUUSD
1. Economist: The Federal Reserve may cut interest rates sharply in December
2. Lee Jae-myung, candidate of the Democratic Party of Korea, was elected president of South Korea
📈 Market analysis:
Currently, the gold price is in a consolidation pattern, showing an overall volatile pattern during the day. The hourly Bollinger Bands are opening downward, and the MACD indicator is running in a dead cross. In the short term, the bears have a certain advantage. However, observing the 4H level, it can be found that the RSI indicator crosses when entering the overbought area, suggesting that the risk of a correction in the short term has increased. For evening operations, it is recommended to wait for the gold price to stabilize before entering the market, focusing on the important support of 3335-3325. If it obtains effective support and stabilizes in this range, the gold price may resume its upward trend. If it falls below 3325, the bullish momentum will be weakened. Therefore, it is recommended to wait for a pullback to 3335-3325 to go long in the US market, and look to 3350-3370 in the short term.
🏅 Trading strategies:
BUY 3335-3325
TP 3350-3370-3400
If you agree with this view, or have a better idea, please leave a message in the comment area. I look forward to hearing different voices.
GOLD XAUUSD XAUUSD XAUUSD XAUUSD 
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Any transaction that is not for profit is a failure! Lead members to double their accounts in one week, with an accuracy rate of up to 90-95%, free sharing group: t.me/Allenview
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.