This week, gold turned negative after experiencing three consecutive positives, leaving a long lower shadow. Although there have been many negative factors this week, such as last week's non-agricultural data, gold prices can end up bottoming out and rising every time, and this time is no exception. After stabilizing at 2320, the price of gold bottomed out again and rebounded, and showed a volatile upward trend after the opening of this trading day. Overall, the current price trend remains strong. Although there has been a correction due to pressure from the news, this is only part of the continuation of the strength. The continuation of any trend requires secondary rhythm to assist, and the callback is to prepare for the subsequent continuation. Therefore, we can regard this adjustment as a better rise for the market outlook.
Judging from the 60-minute chart, the 20-day moving average is currently crossing downwards through the 50-day moving average to form a dead cross pattern, and the MACD value has fallen below the 0 axis. These indicators indicate that gold will continue to fall in the short term. At the top, focus on the resistance range of 2340-2347. If the price rebounds to this range, you can short the position. If the price breaks through 2352, you need to stop the loss. Below, focus on the 2300-2310 resistance range. If the price falls to this range, you can go long with light positions.
Judging from the 60-minute chart, the 20-day moving average is currently crossing downwards through the 50-day moving average to form a dead cross pattern, and the MACD value has fallen below the 0 axis. These indicators indicate that gold will continue to fall in the short term. At the top, focus on the resistance range of 2340-2347. If the price rebounds to this range, you can short the position. If the price breaks through 2352, you need to stop the loss. Below, focus on the 2300-2310 resistance range. If the price falls to this range, you can go long with light positions.
Comment:
As I just predicted, gold encountered resistance at 2347 and did not break through 2347. It is currently correcting. Pay attention to whether the 2325 resistance level below will fall below.
As I just predicted, gold encountered resistance at 2347 and did not break through 2347. It is currently correcting. Pay attention to whether the 2325 resistance level below will fall below.
Comment:
At present, it seems that gold will continue to rise. At present, you can enter long orders with light positions. If the price breaks through 2347, then the next resistance level will be around 2359.
At present, it seems that gold will continue to rise. At present, you can enter long orders with light positions. If the price breaks through 2347, then the next resistance level will be around 2359.
Comment:
Gold has broken through the 2347 resistance level and will continue to rise. It is expected that there will be resistance above 2355-2359. Please note if you hold long orders.
Gold has broken through the 2347 resistance level and will continue to rise. It is expected that there will be resistance above 2355-2359. Please note if you hold long orders.
Gold is currently in a contraction form. If the price breaks through 2347 upwards, the upward trend will continue. If the price breaks below 2325, the next low is expected to be around 2319