Are gold bulls going crazy, or is it just a flash in the pan?

4 hours ago

Gold fluctuated upward during the day on Friday, hitting a high of 3784 in the evening before retreating under pressure and closing at 3760. The closing suggests further retreat at the start of next week, with a series of important data releases expected. Gold is likely to remain volatile at the start of the week. Without any significant news to stimulate the market, watch for resistance around 3790 and a possible decline. Traders holding short positions shouldn't panic. We'll develop a strategy to help you unwind early next week! Please send me your short entry points via the channel, and I'll provide you with a detailed trading strategy!

Let's look at the broader trend: Gold's recent retracement levels have been moving higher. Each pullback paves the way for further breakthroughs. Bullish sentiment remains generally high, so continue to buy on retracements. Short-term support is at 3735-40, while key support remains around 3718-23.

Trading: With no significant news to stimulate the market at the start of the week, watch for resistance at 3790 and a pullback. Gold should be shorted if it rebounds weakly on Monday. Short-term support is at 3735-40, while key support remains near 3718-23. Continue buying on dips. Specific entry points and times are provided in the channel.

1 hour ago

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Signs from the closing of gold indicate that it will continue to fall back at the opening of next week.