Although gold is under pressure and weak at present, gold still rebounded near 3295 under the influence of yesterday's major negative news, proving that there is still a large amount of buying funds below, limiting the retracement space of gold; and from 3295 to 3335, there is still a rebound space of $40, proving that gold is not extremely weak. Moreover, there is a gap left above, and there is a technical need to rebound to fill the gap;
In addition, yesterday gold fell sharply due to news, and there should be many longs trapped in the market. If gold is relatively stable, there may be self-rescue behavior of the trapped longs, so gold longs still have the opportunity to rebound to 3340-3350. At present, the main focus is on the short-term support area of 3315-3305, and we can moderately consider going long on gold in this area.
In addition, yesterday gold fell sharply due to news, and there should be many longs trapped in the market. If gold is relatively stable, there may be self-rescue behavior of the trapped longs, so gold longs still have the opportunity to rebound to 3340-3350. At present, the main focus is on the short-term support area of 3315-3305, and we can moderately consider going long on gold in this area.
Trade active
As expected, gold rebounded after hitting the 3315-3305 area. It has now rebounded above 3320. Our long positions have begun to make good profits. We expect gold to continue to rebound to around 3328-3330. Have you followed me to go long on gold? Friends in the channel have made a lot of money by following my trading signals. Are you not ready to join?Trade closed: target reached
Bros, gold rebounded after touching 3312, and has now rebounded to around 3326. I have notified all VIP members to manually close our long positions around 3325, locking in profits of nearly 100 pips. Congratulations to all the friends who followed my trading signals!Friends in the channel have made a lot of money by following my trading signals. Are you not ready to join?
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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.