Gold is still fluctuating and falling slightly today. Gold is weak, so gold is likely to be short-term. If the price rebounds, it will be a short opportunity.
We need to pay attention to the release of US PCE data later.
From the 1-hour chart
the moving average continues to cross the short arrangement and diverge downward. After gold fell below the early support near 3340, it began to move downward weakly. The current upward pressure is around 3295-3310.
From the daily chart, the price is below the MA20 cycle and the 50 cycle, but remains above the 100 cycle. The technical indicators turned higher, but the momentum indicator is at a neutral level, and the RSI index is around 42.7, which does not point to an upward trend.
Since the upcoming data may have some impact on the price, the price may have a short-term high opportunity. Steady trading is still waiting for the price to rise and then short. Of course, if your trading strategy is more aggressive, you can use a long strategy before the price rises.
Operation suggestions:
Radical: Buy near 3280, stop loss at 3265, profit range 3305-3310.
Conservative: Wait for the price to rise and then bear pressure, sell near 3310, stop loss at 3320, profit range 3290-3285.
We need to pay attention to the release of US PCE data later.
From the 1-hour chart
the moving average continues to cross the short arrangement and diverge downward. After gold fell below the early support near 3340, it began to move downward weakly. The current upward pressure is around 3295-3310.
From the daily chart, the price is below the MA20 cycle and the 50 cycle, but remains above the 100 cycle. The technical indicators turned higher, but the momentum indicator is at a neutral level, and the RSI index is around 42.7, which does not point to an upward trend.
Since the upcoming data may have some impact on the price, the price may have a short-term high opportunity. Steady trading is still waiting for the price to rise and then short. Of course, if your trading strategy is more aggressive, you can use a long strategy before the price rises.
Operation suggestions:
Radical: Buy near 3280, stop loss at 3265, profit range 3305-3310.
Conservative: Wait for the price to rise and then bear pressure, sell near 3310, stop loss at 3320, profit range 3290-3285.
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.