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Gold prices continued their strong upward trend yesterday amidst volatile trading. Gold prices strengthened strongly around the 3345 level during the Asian and European sessions, rising through 3370 in the European session and continuing their upward trend. Gold then retreated and tested the 3361 level before stabilizing and accelerating higher through 3380 before closing strongly. The daily K-line closed with a volatile breakout above the highs, forming a pattern of consecutive rising highs. Gold prices continue to strengthen in the short term, reaching as high as 3385 but failing to hold, indicating significant upward pressure. A break above 3400 would likely target 3430; otherwise, a deeper correction could be in the offing. Technically, adjustments are needed, so excessive buying into the rally is advised. If your current trading is not ideal, I hope I can help you avoid investment setbacks. Welcome to discuss your options.
Based on the 4-hour chart, support is currently focused on the 3350-55 area. Rebounds to this level will maintain a bullish trend. The short-term bullish trend line is focused on the 3330-35 area. If the daily chart stabilizes above this level, continue to buy on dips and follow the trend. I will provide detailed trading strategies during the trading session, so please stay tuned.
Gold Trading Strategies:
1. Short gold on a rebound to the 3385-90 area, then cover your short position at the 3395-3400 area. Target: 3345-50, stop loss: 3405.
2. Go long on a pullback to the 3350-55 area, stop loss: 3323, target: 3390-3395. Hold if it breaks through.
Gold prices continued their strong upward trend yesterday amidst volatile trading. Gold prices strengthened strongly around the 3345 level during the Asian and European sessions, rising through 3370 in the European session and continuing their upward trend. Gold then retreated and tested the 3361 level before stabilizing and accelerating higher through 3380 before closing strongly. The daily K-line closed with a volatile breakout above the highs, forming a pattern of consecutive rising highs. Gold prices continue to strengthen in the short term, reaching as high as 3385 but failing to hold, indicating significant upward pressure. A break above 3400 would likely target 3430; otherwise, a deeper correction could be in the offing. Technically, adjustments are needed, so excessive buying into the rally is advised. If your current trading is not ideal, I hope I can help you avoid investment setbacks. Welcome to discuss your options.
Based on the 4-hour chart, support is currently focused on the 3350-55 area. Rebounds to this level will maintain a bullish trend. The short-term bullish trend line is focused on the 3330-35 area. If the daily chart stabilizes above this level, continue to buy on dips and follow the trend. I will provide detailed trading strategies during the trading session, so please stay tuned.
Gold Trading Strategies:
1. Short gold on a rebound to the 3385-90 area, then cover your short position at the 3395-3400 area. Target: 3345-50, stop loss: 3405.
2. Go long on a pullback to the 3350-55 area, stop loss: 3323, target: 3390-3395. Hold if it breaks through.
Trade active
Gold will soon adjust to our target positionTrade closed: target reached
TP
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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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.
Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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.