Gold Technical Analysis:
Daily chart resistance: 4090, support: 3840.
4-hour chart resistance: 4050, support: 3950.
1-hour chart resistance: 4050, support: 3980.
Today, the European session saw an accelerated rebound, breaking through $4000. The focus is on whether it can hold. If the price can stabilize above $4000 after the Fed's rate cut and Powell's speech, it will inevitably attract previous buying interest, solidifying the long-term upward trend. Conversely, if the price falls below $4000, it can be basically determined that a short-term top has formed. At that time, greater selling pressure will continue to amplify the decline until market risk sentiment shifts.
Based on the 1-hour chart, the price faces resistance around 4050, and the battle around the 4000 level remains crucial. Support is seen around 3980.
Trading Plan:
SELL: 4050 near
BUY: 3980 near
BUY: 3955 near
If you choose to trade, please avoid times when news releases occur.
Daily chart resistance: 4090, support: 3840.
4-hour chart resistance: 4050, support: 3950.
1-hour chart resistance: 4050, support: 3980.
Today, the European session saw an accelerated rebound, breaking through $4000. The focus is on whether it can hold. If the price can stabilize above $4000 after the Fed's rate cut and Powell's speech, it will inevitably attract previous buying interest, solidifying the long-term upward trend. Conversely, if the price falls below $4000, it can be basically determined that a short-term top has formed. At that time, greater selling pressure will continue to amplify the decline until market risk sentiment shifts.
Based on the 1-hour chart, the price faces resistance around 4050, and the battle around the 4000 level remains crucial. Support is seen around 3980.
Trading Plan:
SELL: 4050 near
BUY: 3980 near
BUY: 3955 near
If you choose to trade, please avoid times when news releases occur.
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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.
💥Telegram Channel Free Updates 👉🏻
💥This a place for learning and communication. 👉🏻
💥Provide trading guidance.👉🏻
Telegram Channel👉🏻t.me/Actuary00group
💥This a place for learning and communication. 👉🏻
💥Provide trading guidance.👉🏻
Telegram Channel👉🏻t.me/Actuary00group
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.