https://www.tradingview.com/x/UCCdnzGE/
💡Message Strategy
Spot gold's upward momentum was stalled during the Asian session on Thursday (August 14th). After hitting a three-day high near $3,375, it encountered some intraday selling, trading close to Wednesday's closing price.
Global risk sentiment continued to be supported by two factors: optimistic expectations of a three-month extension of the US-China trade truce and positive signals from Friday's (August 15th) US-Russia summit aimed at ending the Russia-Ukraine conflict. This, in turn, weighed on the safe-haven precious metal.
📊Technical aspects
According to the 4-hour chart, gold showed an "inverted V-shaped reversal", which just reflects the lack of momentum for gold bulls to rise as expectations of a Fed rate cut rise.
Gold prices have formed strong resistance in the $3,360 range and are showing weakness near the 200-period moving average on the 4-hour chart, indicating that bears are still in control. Short-term resistance is at $3,365. If it fails to break through, it may fall further, eventually falling to the $3,300 mark.
💰Strategy Package
Short Position:3355-3360，SL:3380，Target: 3330，3300
💡Message Strategy
Spot gold's upward momentum was stalled during the Asian session on Thursday (August 14th). After hitting a three-day high near $3,375, it encountered some intraday selling, trading close to Wednesday's closing price.
Global risk sentiment continued to be supported by two factors: optimistic expectations of a three-month extension of the US-China trade truce and positive signals from Friday's (August 15th) US-Russia summit aimed at ending the Russia-Ukraine conflict. This, in turn, weighed on the safe-haven precious metal.
📊Technical aspects
According to the 4-hour chart, gold showed an "inverted V-shaped reversal", which just reflects the lack of momentum for gold bulls to rise as expectations of a Fed rate cut rise.
Gold prices have formed strong resistance in the $3,360 range and are showing weakness near the 200-period moving average on the 4-hour chart, indicating that bears are still in control. Short-term resistance is at $3,365. If it fails to break through, it may fall further, eventually falling to the $3,300 mark.
💰Strategy Package
Short Position:3355-3360，SL:3380，Target: 3330，3300
Trade active
Gold shorts fell as expected and gold bulls passed by like a shooting star!
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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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.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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.