On the last trading day of this week, the bears attacked strongly and continued to refresh the recent lows, reaching the lowest point near 3325 before stopping.
From Monday's 3345 to 3440, it closed near 3337. This week, it also walked out of the large range roller coaster pattern, and all the strengths in the previous period did not exist. Under the continuous downward trend, the bulls were also vulnerable, and there was not even a strong rebound, which indirectly explained the strength of the bears in the short term.
As for the current trend, the bears are likely to continue to be strong, and before there is a symbolic upward breakthrough, we still need to maintain the idea of shorts to operate. The current upper pressure is maintained near 3350, which is also the bottom position touched for the first time in the previous period. It is possible that it will be transformed into a top-bottom conversion pattern; and the strong support level below is near 3310.
When the Asian market opens next Monday, we need to pay close attention to whether there is a gap problem on both the bulls and bears. After three consecutive negative daily lines, all the moving average systems have been broken, and it is also likely to form a resonance pressure pattern. On Monday, gold will first touch around 3350 and continue to short. The profit range will be around 3330-3320, and the stop loss will be 3360. If the European session is stronger, you can adjust the point before the US session.
From Monday's 3345 to 3440, it closed near 3337. This week, it also walked out of the large range roller coaster pattern, and all the strengths in the previous period did not exist. Under the continuous downward trend, the bulls were also vulnerable, and there was not even a strong rebound, which indirectly explained the strength of the bears in the short term.
As for the current trend, the bears are likely to continue to be strong, and before there is a symbolic upward breakthrough, we still need to maintain the idea of shorts to operate. The current upper pressure is maintained near 3350, which is also the bottom position touched for the first time in the previous period. It is possible that it will be transformed into a top-bottom conversion pattern; and the strong support level below is near 3310.
When the Asian market opens next Monday, we need to pay close attention to whether there is a gap problem on both the bulls and bears. After three consecutive negative daily lines, all the moving average systems have been broken, and it is also likely to form a resonance pressure pattern. On Monday, gold will first touch around 3350 and continue to short. The profit range will be around 3330-3320, and the stop loss will be 3360. If the European session is stronger, you can adjust the point before the US session.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
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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.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
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.