Today's gold price: continue to short around 3350
Currently, gold prices are suppressed by fundamentals
The easing signals released by the Sino-US trade negotiations have weakened the demand for safe-haven assets, but the Fed's interest rate cut expectations and geopolitical situation still provide support. Under the interweaving of long and short factors, gold prices are volatile.
Key price:
Resistance: $3365 (upper edge of daily range), $3340-3350 (4-hour chart pressure level)
Support: $3300 (midline of daily range/psychological barrier), $3250 (strong support area)
Operation strategy:
Short order opportunity (main strategy)
Entry area: $3347-3352 (near the upper edge of the 4-hour chart pressure level)
Stop loss: $3365 (if the upper edge of the daily range is broken, the trend may turn strong)
Target:
First target: $3335 (midline support level of hourly chart)
Second target: $3310 (lower track of 4-hour chart/extension of intraday low)
Risk warning
Event risk:
If the Sino-US negotiations deteriorate unexpectedly, or the Federal Reserve unexpectedly releases dovish signals, it may trigger safe-haven buying of gold and break through the 3365 pressure.
Currently, gold prices are suppressed by fundamentals
The easing signals released by the Sino-US trade negotiations have weakened the demand for safe-haven assets, but the Fed's interest rate cut expectations and geopolitical situation still provide support. Under the interweaving of long and short factors, gold prices are volatile.
Key price:
Resistance: $3365 (upper edge of daily range), $3340-3350 (4-hour chart pressure level)
Support: $3300 (midline of daily range/psychological barrier), $3250 (strong support area)
Operation strategy:
Short order opportunity (main strategy)
Entry area: $3347-3352 (near the upper edge of the 4-hour chart pressure level)
Stop loss: $3365 (if the upper edge of the daily range is broken, the trend may turn strong)
Target:
First target: $3335 (midline support level of hourly chart)
Second target: $3310 (lower track of 4-hour chart/extension of intraday low)
Risk warning
Event risk:
If the Sino-US negotiations deteriorate unexpectedly, or the Federal Reserve unexpectedly releases dovish signals, it may trigger safe-haven buying of gold and break through the 3365 pressure.
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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.
Enjoy trading Enjoy life The best trading team
💸Free signal
t.me/+TRUvCn9lPQFhZTYx
💸Free signal
t.me/+TRUvCn9lPQFhZTYx
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.