There has been intense long-short rivalry in gold today, and in the short term, focus should be on the breakthrough of key levels and the effectiveness of support.
Continue to keep a close eye on the 4150-4160 resistance zone above. If it can be successfully broken through, there may be a new upward wave ahead, potentially even moving towards the 4190-4195 range.
For the downside, pay attention to the support around 4080. If the critical support level of 4080 USD is breached, it may trigger follow-up selling, further pushing gold prices down to around 4050.
Overall, in terms of operations, we should patiently wait for entries at key levels and avoid blindly following the trend.
Trading Strategy:
Buy 4090 - 4100
SL 4070
TP 4130 - 4140 - 4150
Sell 4160 - 4165
SL 4170
TP 4120 - 4110 - 4100
Continue to keep a close eye on the 4150-4160 resistance zone above. If it can be successfully broken through, there may be a new upward wave ahead, potentially even moving towards the 4190-4195 range.
For the downside, pay attention to the support around 4080. If the critical support level of 4080 USD is breached, it may trigger follow-up selling, further pushing gold prices down to around 4050.
Overall, in terms of operations, we should patiently wait for entries at key levels and avoid blindly following the trend.
Trading Strategy:
Buy 4090 - 4100
SL 4070
TP 4130 - 4140 - 4150
Sell 4160 - 4165
SL 4170
TP 4120 - 4110 - 4100
Trade active
Gold surged straight upward during the U.S. trading session. After strongly breaking through the short-term resistance at 4160, it directly surged above 4200, forming a bullish situation.
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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.
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.