Looking at recent gold price movements, the pressure remains evident, with each surge followed by a pullback, but the retracement range has been quite limited, maintaining an overall pattern of resistance above and support below.
From the 1-hour chart, the downward trend remains intact. Unless the 4100 level is broken in the short term, the downward trend will likely continue.
Gold prices are currently around 4020, which is very close to the upper limit of the downward trend channel. As long as the trend channel remains intact, we can short in the 4020-4040 range. As long as the rhythm is not disrupted, there is still a good chance of making a profit.
From the 1-hour chart, the downward trend remains intact. Unless the 4100 level is broken in the short term, the downward trend will likely continue.
Gold prices are currently around 4020, which is very close to the upper limit of the downward trend channel. As long as the trend channel remains intact, we can short in the 4020-4040 range. As long as the rhythm is not disrupted, there is still a good chance of making a profit.
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Daily real-time trading signals are available in the channel below ⬇️!
Free channel: t.me/Ronnie_John6
Free channel: t.me/Ronnie_John6
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.