Analysis of gold market trend:
Gold price surged in the morning of Asian session, but then fell to around $3,315.
Market situation analysis shows that gold price continued the trend of yesterday in Asian time, rising rapidly in the morning, and then began to decline. It fell to $3,275 in the morning, and then rose to today's high of $3,330.
From the perspective of the gold hourly line, it began to rise after a brief decline in the morning of Asian session, effectively breaking through the resistance level of 3,315 and rising to a high of $3,330 for a short time. Then a downward trend appeared. This high-level fluctuation shows that the market is in a big wash and is brewing a new trend.
I think the downward space may be around $3,300.
Operation strategy:
Short around $3,320, stop loss at $3,330, and take profit at $3,300.
Gold price surged in the morning of Asian session, but then fell to around $3,315.
Market situation analysis shows that gold price continued the trend of yesterday in Asian time, rising rapidly in the morning, and then began to decline. It fell to $3,275 in the morning, and then rose to today's high of $3,330.
From the perspective of the gold hourly line, it began to rise after a brief decline in the morning of Asian session, effectively breaking through the resistance level of 3,315 and rising to a high of $3,330 for a short time. Then a downward trend appeared. This high-level fluctuation shows that the market is in a big wash and is brewing a new trend.
I think the downward space may be around $3,300.
Operation strategy:
Short around $3,320, stop loss at $3,330, and take profit at $3,300.
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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.