Recently, the strengthening dollar and waning expectations of interest rate cuts have put upward pressure on gold. Gold's rebound today was weak, forming a triangle pattern and fluctuating within the 4050-4090 range. I believe this market condition is favorable for trading because we have identified resistance and support lines, allowing us to sell on rallies and buy on dips. However, gold's rebound in the US session will likely continue to face pressure, and the market remains bearish. Therefore, any rebound in gold during the US session should be used as an opportunity to sell.
The 1-hour moving averages for gold have formed a bearish crossover, opening up further downside potential. Gold still has downward momentum, and the overall 1-hour chart shows a downward sloping trend with a continuously shifting center of gravity. Any rebound in gold will continue to provide opportunities to sell. If gold fails to break above 4100 during the US session rebound, then below 4100, it should be used as an opportunity to sell on rallies.
Operation suggestions:
SELL:4080-4090,TP:4060-4065. SL:4010
BUY: 4055-4060, TP: 4080-4085, SL: 4040
I share accurate gold market analysis daily, but the advice here has a certain time lag. If you agree with my analytical approach, you need to find a method to adapt.
The 1-hour moving averages for gold have formed a bearish crossover, opening up further downside potential. Gold still has downward momentum, and the overall 1-hour chart shows a downward sloping trend with a continuously shifting center of gravity. Any rebound in gold will continue to provide opportunities to sell. If gold fails to break above 4100 during the US session rebound, then below 4100, it should be used as an opportunity to sell on rallies.
Operation suggestions:
SELL:4080-4090,TP:4060-4065. SL:4010
BUY: 4055-4060, TP: 4080-4085, SL: 4040
I share accurate gold market analysis daily, but the advice here has a certain time lag. If you agree with my analytical approach, you need to find a method to adapt.
Knowledge and research are key to reducing risk; blind investment carries extremely high risks.
✈️t.me/thomas77sk
t.me/thomas77sk
✈️t.me/thomas77sk
t.me/thomas77sk
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.
Knowledge and research are key to reducing risk; blind investment carries extremely high risks.
✈️t.me/thomas77sk
t.me/thomas77sk
✈️t.me/thomas77sk
t.me/thomas77sk
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.
