On Thursday, gold rose rapidly in the European session, reaching around 3397, but failed to successfully break through the 3400 integer mark; it currently fell back slightly and fluctuated around 3375. Judging from the 4-hour chart, the price is currently running close to the middle track of the Bollinger band; since the market opened this week, the gold price has continued to run above the middle track of the Bollinger band. Despite the slight decline, it has remained within the upward trend channel and has continuously set new highs.
The current upward pressure position remains at 3390-3400, and the key support level is around 3370, which is also the crossover position of the current MA5, 10, and 20 moving averages. The RSI indicator remains above its midline, indicating that bullish momentum remains.
Quaid believes that as long as the price remains above 3370 in the US session, any pullback will be a sign of accumulating upward momentum. Gold still has the trend of hitting the 3400 integer mark.
Trading strategy:
Go long near 3370, stop loss at 3360, profit range 3380-3390-3400.
Short near 3400, stop loss at 3410, profit range 3375-3365-3355.
The current upward pressure position remains at 3390-3400, and the key support level is around 3370, which is also the crossover position of the current MA5, 10, and 20 moving averages. The RSI indicator remains above its midline, indicating that bullish momentum remains.
Quaid believes that as long as the price remains above 3370 in the US session, any pullback will be a sign of accumulating upward momentum. Gold still has the trend of hitting the 3400 integer mark.
Trading strategy:
Go long near 3370, stop loss at 3360, profit range 3380-3390-3400.
Short near 3400, stop loss at 3410, profit range 3375-3365-3355.
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.
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.