Gold remains in a wide-range trading pattern, with the daily chart closing with another doji candlestick. This pattern suggests continued range-bound trading. Today's strategy is to buy low and sell high, as there is still room and demand for further declines. The key resistance level to watch today is around $4098; sell on rallies near this level.
Gold maintains its wide-range trading structure. The daily/weekly charts show a tug-of-war between bulls and bears, with moving averages converging and the price hovering around the middle Bollinger Band. Gold will soon face a directional decision. From a technical perspective, after rebounding to the $4110 high and encountering resistance, gold has fallen again in a stepped pattern, and this area remains a significant resistance zone.
Key Levels:
First Support: 4040, Second Support: 4023, Third Support: 4004
First Resistance: 4090, Second Resistance: 4108, Third Resistance: 4130
Gold Intraday Trading Strategy:
BUY: 4026-4031, SL: 4010, TP: 4050-4060;
SELL: 4095-4100, SL: 4115, TP: 4080-4070;
More Analysis →
Gold maintains its wide-range trading structure. The daily/weekly charts show a tug-of-war between bulls and bears, with moving averages converging and the price hovering around the middle Bollinger Band. Gold will soon face a directional decision. From a technical perspective, after rebounding to the $4110 high and encountering resistance, gold has fallen again in a stepped pattern, and this area remains a significant resistance zone.
Key Levels:
First Support: 4040, Second Support: 4023, Third Support: 4004
First Resistance: 4090, Second Resistance: 4108, Third Resistance: 4130
Gold Intraday Trading Strategy:
BUY: 4026-4031, SL: 4010, TP: 4050-4060;
SELL: 4095-4100, SL: 4115, TP: 4080-4070;
More Analysis →
Trade active
Gold is trading in a narrow range. Buying low and selling high is a good strategy. Trade closed: target reached
Support held, continued upward breakout 
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✅Gold Trading Knowledge Camp
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More free daily updates of signals and analysis
✅Gold Trading Knowledge Camp
💥Welcome to my Telegram channel: t.me/JungoldAnalyst
✅Gold Trading Knowledge Camp
💥Welcome to my Telegram channel: t.me/JungoldAnalyst
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.