Bulls May Defend the 4110–4100 Zone! A Counterattack Is Brewing

2 days ago

As expected, gold reached the 4120-4110 area during the decline, and the bears are relatively in an advantageous position. However, we can also clearly see that since gold started the 4000 defense battle, although gold was once weak, it still adhered to its bottom line during the defense process. Therefore, even if the bears currently have the upper hand, it is difficult for them to cross the line!

From the short-term, we can clearly see that gold has tested the 4110-4100 area three times, and has shown good rebound performance after touching this area. As it has failed to break through the 4110-4100 area many times during the retracement process, this area has become a key stronghold and lifeline for the bulls' defense. The bulls may launch a series of counterattacks with this area as the core.

Therefore, in the short term, we might consider using the 4110-4100 area as support to try to go long on gold, initially aiming for a rebound target area of 4125-4135.

2 days ago

Trade active

The current gold market performance is still relatively weak, so we decided not to hold it for too long to avoid losses due to the ups and downs of the gold market. The first transaction of the day has been completed, although the profit is not much. But I think that stable profits are the most important thing, under the premise of reducing trading risks. Even if the profit is smaller each time, it can still be a considerable profit by accumulating small profits. So let us continue our efforts!