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The adjustment has begun, seize the opportunityGold has remained in overbought territory for the past month. After four consecutive days of strong gains, investors have taken profits, and gold's safe-haven appeal has waned. US President Trump stated that a resolution to the Middle East conflict is "very close." Previously, Israeli and Hamas officials expressed cautious optimism about ongoing negotiations in Egypt, believing that the two-year Gaza conflict could end. From a technical perspective, the RSI indicator has been in the overbought range. As mentioned before, the recent rise in gold was driven by news. When geopolitical tensions ease, gold will definitely adjust. Today's trend is in line with our expectations. At this stage, we only need to focus on the 4000 point support. If it falls below this position, the next support will be at 3977-3980. Those who followed me in entering short positions below 4050 today have already taken profits on some of their positions near 4020, and will gradually take profits on the remaining positions near 4000. For specific trading decisions, please follow my real-time updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
2
Enter the market with a short position and wait for a pullbackYesterday, as expected, the price fell from around 3977 to 3940, resulting in significant profits on both short positions. We subsequently suggested going long near 3920. Unfortunately, we didn't reach our expected entry point. Gold has broken through 4000 points as expected by the market. The current high is 4025, which has reached what we call the resistance area. Be prepared to enter a short position here. Don’t worry about whether it is a bullish trend or a decline. The only thing that matters is making money in the end. It is worth noting that gold and the US dollar have shown a rare trend of simultaneous strengthening recently. The rise in gold is mainly driven by short-term news, but from the perspective of historical linkage, the strong pattern of the US dollar as the pricing currency of gold is sustainable. If the US dollar continues to rise in the future, it will inevitably significantly suppress the upward space of gold, which further supports our current decision to arrange short positions. For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Continued adjustments. Follow the trend.Gold started a steady rise right after the Asian market opened on Wednesday, reaching a high of around 4058. In the recent market, the bulls have become completely numb to the repeated record highs. In the early stage, the market thought that the integer level of 4000 might form a certain suppression and achieve a callback effect; the fact is that this integer level has no resistance, which also makes the market refresh our cognition. On Wednesday, the U.S. market was trading sideways at a high level. After retreating to around 4026 in the European market, it continued to rise, and the upper pressure position continued to rise. The moving average system is intact. After a pullback near 4000 in the early Asian session, it continued to rise. The 4-hour chart shows that the market is in a period of consolidation and correction at a high level, with prices temporarily under pressure near 4050. Currently, the short-term moving average continues to show signs of slight downward divergence, suggesting a consolidation and correction in the short term. The 1-hour chart shows that after a period of narrow range fluctuations, the technical pattern is gradually adjusting. There may be some room for a short-term rebound, but the momentum will be relatively small. Trading Strategy: Go long on a pullback to around 4025, with a stop loss at 4015 and a profit range of 4050-4060.
OANDA:XAUUSD
by Market_Trader1
The support is stable. Buy on pullbacks.The strong pattern of the gold market continues, and prices continue to break through historical highs. This strong upward trend has become the new market norm, reinforcing investors' optimistic expectations. However, as gold prices continue to climb to new heights, market sentiment is tinged with a touch of caution, with some investors becoming uneasy about the excessive short-term gains and fearing the possibility of volatile fluctuations. Although there have been technical pullbacks recently, the pullbacks have been relatively small and have not changed the upward trend. In the current clear, one-way upward trend, a rational trading strategy aligns with the primary trend, viewing each pullback as an opportunity to enter long positions on dips rather than a sign of a trend reversal. Judging from the 4-hour chart, the current key support area is around 4000, which is an important watershed for judging the strength of the short-term trend. Trading strategies recommend buying on pullbacks, patiently waiting for prices to fall back to support levels before buying. Be wary of high-level volatility and avoid frequent trading during periods of uncertain direction.
OANDA:XAUUSD
by Market_Trader1
Gold faces a correction. Latest analysis.Analysts at Rabobank stated in a report that while threats to the Federal Reserve's independence have diminished the dollar's luster, it remains a major safe-haven asset, along with gold. The recent rise in gold prices has raised questions about the dollar's role as a safe-haven asset, she said. While the dollar faces risks, the depth of the US capital market means investors will be reluctant to abandon the greenback if geopolitical risks intensify. Gold experienced a volatile upward trend on Wednesday, stabilizing above 3985 before gradually rising, reaching a high of 4060 before retracing. Gold bulls are performing very strongly and are currently experiencing a volatile adjustment. If gold continues to rise, there is further room for growth. The lower support level will focus on around 4020, and further downward support will focus on the defensive price of $4,000. If the correction falls below 4,000, it means that the degree of retracement will be large, so stop loss in time and wait for the retracement to be completed. Overall, Quaid believes that gold remains in a bullish trend, and despite a minor correction, it is not yet over. Focus on the strong resistance range of 4050-4080 on the upside, and the support range of 4020-4000 on the downside. Trading Strategy: Place long orders in batches on a pullback to 4020-4010, with a stop-loss at 4000. Profitable range: 4050-4060-4080.
OANDA:XAUUSD
by Market_Trader1
4050-4030 oscillation, bullish trend remains the main trendGold is currently still in a bullish upward trend. Our core trading strategy remains unchanged, and the key points I reminded you of earlier this morning must be carefully considered. Judging from the trend, gold in the US market is basically oscillating back and forth in the range of 4050-4030. I mentioned before that gold has repeatedly tested 4030. Once it falls below, gold may test the support range of 4020-4010 below in the US market. This has been marked in the chart. I believe brothers can see it very clearly. At the same time, we should still take precautions on the upside. As time goes by, we can pay moderate attention to the short-term channel pressure around 4065. Once gold stabilizes above 4050, it will definitely touch around 4065. On the downside, we continue to monitor a break of 4030. If, while waiting for gold to fall back to the support range, it first rises and hits the channel resistance, you can retest gold shorts based on market trends. If you have any questions, you can leave me a message for help. If you think Allen's analysis is helpful to you, you can give it some encouragement by clicking the like button.
OANDA:XAUUSDLong
by Allen_Boswell
Gold is strong. There is no way to guess the high point.Gold's strong upward trend continues. As prices climb, fluctuations are increasing, but the overall trend is very clear. Upside potential has opened up, and the magnitude is even greater than expected, with a very sharp upward trend. On Wednesday, gold prices held steady at the 4,000 mark. Previous predictions suggested that a break above 4,000 would open up further upside potential. The current trend is in line with expectations, and the peak is nowhere in sight. There will most likely be a small adjustment after the rise, but you just need to follow the market trend and continue to adhere to the principle of following the trend. On the 4-hour chart, the price is currently range-bound and correcting at a high level, but the K-line remains relatively strong above the short-term moving average. This kind of trend has appeared many times recently, and the strength of the sideways fluctuation and pullback after the rise is not strong. It is highly likely that gold will continue to rise in the 4-hour trend. The only caveat is that the Federal Reserve meeting minutes may bring some uncertainty to the market. Trading strategy: Buy near 4035, stop loss at 4025, profit range: 4060-4080.
OANDA:XAUUSDLong
by Market_Trader1
1
Gold has no high. Latest Analysis.Since the beginning of the year, driven by global trade tensions, market doubts about the Federal Reserve's independence and policy path, and ongoing concerns about the health of the US fiscal system, international gold prices have surged over 50%, breaking through the $4,000 per ounce mark for the first time in history. Delays in US economic data due to the risk of a government shutdown have further exacerbated market uncertainty, adding fuel to gold's surging rally. Technically, gold prices maintain a stable bullish pattern on the daily chart. Although showing signs of fatigue after consecutive surges, no top has been signaled. The 1-hour chart shows that gold prices are moving higher amidst volatility. Any pullback will likely find buying support at key support levels, maintaining the short-term upward trend. The 4-hour chart shows that although the RSI indicator has entered overbought territory, suggesting the risk of a pullback, prices remain firmly above all moving averages. The bullish alignment of the moving averages provides solid technical support for the upside. Looking back at Tuesday's performance, the market has demonstrated strong resilience after reaching a record high. The price of gold surged and then fell back to test the support below, and then rebounded quickly. This clearly demonstrates the strong demand for bargain-hunting in the current market. Overall, the overall upward trend in gold prices remains solid. In terms of operating strategy, it is recommended to arrange long orders after a callback. In the short term, focus on the resistance level of 4040. If it is successfully broken, resistance will shift to the 4050-4070 range. The short-term support below will first focus on the $4020 to $4010 support, and the more critical defensive level is around $4000. Any pullback toward this support area could provide an opportunity for a new round of long entry.
OANDA:XAUUSD
by Market_Trader1
Gold Feast. Ending Time?Gold Feast. Ending Time? During Wednesday's Asian session, gold reached Quaid's predicted level, breaking through the 4,000 mark and continuing its strong upward trend. Gold has now reached a critical juncture. Not only is time, but also space and current news factors could lead to a reversal. According to US Congressional news, US Senate Majority Leader and Republican Senator John Thune stated that the Senate will vote again on two short-term appropriations bills on the 8th. He revealed that some members of both parties met for dinner that evening to discuss the government shutdown progress, but did not provide further details. This will be the Senate's sixth attempt to pass a temporary spending bill to end the federal government shutdown; Judging from the current chart, after each period of high point, there will be a retracement correction. The amplitude of the callback determines where the exact high point will appear. Based on Tuesday's trend, there are several retracement lows: 3940, 3960, and 3970. Quaid believes that if gold experiences a correction, it will only retrace to these levels. Based on the maximum retracement level of 3970, the high point is approximately around 4040, which is also the current estimated maximum level. If the price retraces to around 3940, the high point will be around 4020.The location of the high point requires a short period of observation to verify. The location of the high point requires a short period of observation to verify. Everyone should pay close attention to the appearance of the high point. After a small short position at the high point, wait for the price to fall back and continue to go long.
OANDA:XAUUSD
by Market_Trader1
The US dollar and gold rose together, shorting on ralliesGold's price is currently still in an upward cycle boosted by the market's risk aversion. Yesterday, it fell to 3940 and rebounded to 3990. Today, it hit 4000 points at the opening and then retreated again. This is a common trend in recent times. Now every wave of rise must be accompanied by a pullback. At the same time, the US dollar index has been strengthening for several days. We need to be alert to the risk of selling after breaking through the 4000 mark. Furthermore, with the US dollar's continued strength, we must be wary of the risk of a sell-off after breaking through 4000. Market expectations for gold have already been reached, and given the uncertainty surrounding the US government shutdown, a correction in price driven by news is inevitable. Shorting at high levels is still the primary strategy. Resistance levels: 4000, 4020 Support levels: 3977, 3962 For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don't have a plan or strategy for gold trading and are struggling to achieve consistent profits, you can refer to and follow my updates for guidance and help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Strong momentum. Watch key levels.Gold prices hit a new high on Tuesday. After a pullback to around 3940 in the European session, they continued their strong upward momentum, reaching a new high at 3985 before retreating slightly. On the 1-hour chart, after a pullback in the European session that touched the lower Bollinger Band, prices rebounded strongly, rising straight up to reach a new high and currently trading near the upper band. The moving average system crosses upward, and the price continues to create new highs along the MA5 moving average. The key position to focus on in the short term is the 3960-3965 area, which is the intersection of the MA10\20 moving average and the middle track of the Bollinger band. Therefore, if gold bulls continue to gain momentum, a correction will not likely fall below 3960. As long as the price remains above 3960, and after reaching 3980, resistance at the 4000 mark will be minimal. Quaid recommends watching the 3960 area and entering a long position as soon as it stabilizes above 3960. The high point position focuses on the 4000 integer mark.
OANDA:XAUUSDLong
by Market_Trader1
1
The 3975 resistance is effective, is gold going to fall?The current price of gold has moved out of the previous high-level oscillation range on the daily trend, and has not continued to rise at the 4-hour level. On the hourly level, after continuous high-level oscillations, the technical pattern has begun to gradually weaken. On the small-level cycle trend, the K-line has also begun to slowly maintain a weak trend along the short-term moving average. The current market situation is just as we mentioned before. The bulls' momentum is obviously insufficient. We have made two consecutive short orders near the 3975 resistance level and both have made good profits. After multiple attacks on 3977 and failure to break through, gold has adjusted and has now fallen below the early low. Pay attention to the support of 3953-3950. If this position is broken, gold will continue to test the support of 3930-3920. Resistance levels: 3977, 3995 Support levels: 3930, 3900 For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don't have a plan or strategy for gold trading and are struggling to achieve consistent and stable profits, you can refer to and follow my updates for guidance and help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Upward trend. Bullish momentum persists.Gold opened higher in Asia on Monday, continuously hitting new highs, reaching a high near 3970 in the US session, a previously unimaginable high. The Asian session continued its strong performance on Tuesday, reaching near 3977. It is currently experiencing a small pullback, with gains reaching 86 points. Given the current momentum, it's only a matter of time before it reaches 4000. Currently, the bullish structure of gold remains intact, with prices approaching the 4000 mark. The RSI indicator on the daily chart has crossed above 80, indicating overbought conditions. Bullish momentum continues, with prices slowly rising along the high of the 5-day moving average. Prices on both the 4-hour and daily charts are trading within the upper Bollinger Bands, with the moving averages trending upward. After a short-term correction on the 1-hour moving average, gold has stabilized and continued to rise. The upward trend of the moving averages indicates continued upward momentum, and any current price corrections are opportunities to enter the market and go long. Although the current price has exceeded imagination, the trend continues to move upward. It is important to note that stop loss must be strictly enforced. Trading strategy: Go long on a price pullback to around 3945, with a stop loss at 3935. Profit range: 3970-3980.
OANDA:XAUUSDLong
by Market_Trader1
Keep breaking new highs, is there any hope for short positions?Gold opened higher today, then retreated after hitting resistance at 3975. This trend mirrors recent trends: every rally is followed by a pullback. Even after breaking through resistance, the surge wasn't as strong as before, and the price has since fluctuated at a high level. This indicates that the current price is close to the market's target, in line with market expectations. The recent rally was driven by news, and this seven-week rally hasn't seen a significant pullback. The risk of chasing the gains outweighs the reward, so we're primarily shorting at high levels. The short positions we entered at 3962 and 3974 have been closed with profit taking near 3960. We will keep an eye on the pressure at 3975 above and will choose the right time to act depending on the breakthrough situation. Resistance levels: 3975, 3995 Support levels: 3930, 3900 For specific trading decisions, please follow my live updates. I update my trading ideas and strategies daily. If you don't have a plan or strategy for gold trading and can't achieve consistent and stable profits, you can refer to and follow my updates for guidance and help avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Gold → Continuously hitting new highs, where will the bears go?After today's sharp opening, we shorted gold at 3946. After repeated testing of support at 3930, we took profit. Currently, gold continues to strengthen due to a variety of factors, including the US government shutdown, interest rate cuts, and geopolitical factors. However, the risks of chasing the price higher at this level outweigh the rewards. Gold has seen seven consecutive weeks of strong gains without a single pullback. If a pullback occurs, it would likely start at $100. On the hourly chart, intraday pullbacks were mild and sustained, with the K-line chart maintaining a relatively strong trend along the short-term moving average. Smaller timeframes exhibited some divergence. Moreover, after gold fell back to 3930 and broke through the resistance level of 3950, it did not rise as much as before, which means that the current position is close to market expectations, and the bullish momentum is not as strong as before. We will continue to consider shorting gold on rallies in the evening. Resistance levels: 3975, 3995 Support levels: 3930, 3900 For detailed trading decisions, please follow my real-time updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Abundant energy. Breaking through 4000?Gold continues its strong bullish trend, and the bullish outlook remains unchanged. Having already broken through the 3900 mark, the upside target could reach 4000. Based on the cyclical rhythm, we expect continued unilateral gains in the early part of this week (Monday and Tuesday); be wary of a shift to a volatile upward trend or a reversal in the midweek (Wednesday and Thursday); Friday is likely to see a corrective rally, but if a reversal occurs midweek, there is a risk of a sharp correction on Friday. Technically, gold maintains a healthy upward trend along its short-term moving average on the 4-hour chart. The bottoming out during the US trading session has completed the technical pattern repair, accumulating momentum for further gains. Although the current price is fluctuating at a high level, a new high is inevitable, as similar patterns have repeatedly demonstrated strong breakouts recently. Even if it maintains a high and narrow consolidation in the short term, there is a high probability that it will see a direct rise. From the 1-hour level, the gold price is temporarily consolidating at a high level, but the small-cycle technical indicators have shown a certain degree of top divergence. This indicates that the short-term trend may continue to fluctuate at a high level and be strong, and we need to pay attention to the opportunity for bullish intervention after the correction. Watch for opportunities to enter the bull market after a pullback. The overall technical structure remains solid and supports a bullish outlook. Trading Recommendation: Continue to buy on a pullback to 3945, with a stop-loss at 3935. Profit range: 3970-3980-3990.
OANDA:XAUUSDLong
by Market_Trader1
Gold is falling after rising and focusing on the support of 3930Gold continues its ascent, reaching new highs, posting seven consecutive weeks of strong weekly gains – a rare trend. This surge is driven by factors such as the US shutdown, growing expectations of interest rate cuts, and geopolitical conflicts. Today's market opened with a surge, and this acceleration suggests continued upward momentum and an unstoppable bullish momentum. Gold's one- and four-hour charts are all bullish, with the moving averages diverging upward in a bullish pattern. Technically, the bulls have broken through the neckline, signaling another upward move. Our short position entered at 3946 is currently making good profits. Pay attention to the support below 3930. If it falls below this level, we can look at the 3920 line. Keep an eye on support at 3930; a break below this level could see the 3920 level. For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you lack a plan or strategy for gold trading and are struggling to achieve consistent profits, you can refer to and follow my updates for guidance and help avoid mistakes.
TVC:GOLDShort
by Matthew_8888
12
Gold is rising strongly. Here's the analysis.From a technical perspective, gold's cyclical trend is bullish. The daily chart has successfully broken out of its previous narrow range, with prices steadily rising along the short-term moving average. The next key factor will be whether a secondary rally can be launched after retracing to the 3900 support level. While the 1-hour chart remains strong, with limited pullbacks, prices continue to rise, but caution is warranted regarding the risk of a pullback after a rapid surge. Based on the current technical pattern, a short-term bullish outlook is maintained, but a buy-on-dip strategy should be prioritized. Gold prices strongly broke through the previous key resistance level of 3900 in early Asian trading, which has now become a significant support level. An ideal long position would be to wait for prices to fall back to around 3915. If this area finds effective support and signals of stabilization emerge, this would be a relatively safe entry point. As for upside targets, the primary focus is on the 3960 resistance level. A successful breakout would open up potential for higher prices. It's important to emphasize that when market sentiment is euphoric and prices continue to rise, volatility intensifies, significantly increasing the risk of chasing the rally. From the overall trend, the medium- and long-term upward momentum of gold still exists, but technical corrections need to be handled with caution in the short term. The core strategy is to rely on key support to find low-long opportunities.
OANDA:XAUUSDLong
by Market_Trader1
Gold surges again, do bears still have a chance?Gold prices surged at the opening bell on Monday! The ongoing US government shutdown has heightened uncertainty, and coupled with widespread speculation that the Federal Reserve will cut interest rates, gold opened the market with full steam, surging upwards and setting new all-time highs. Technically, the bulls broke through the neckline and are now rising again. The indicator is already significantly overbought, so chasing the bulls at this point is irrational. Today's gains were primarily driven by news. ① The US government shutdown sparked another famous tirade against senators last Friday—the bipartisan temporary funding bills were completely rejected, leaving the door open for a shutdown. Congress is now adjourned until Monday, when the leadership plans to force a fifth vote on the House version of the bill to extend funding until November 21st. This doesn't represent a solution; it's clearly treating the vote as a "game to clear"—the question remains: can the shutdown be resolved on Monday? ② According to CME's "Fed Watch," the probability of the Fed keeping interest rates unchanged in October is 5.4%, and the probability of a 25 basis point rate cut is 94.6%. The probability of the Federal Reserve keeping interest rates unchanged in December is 0.6%, the probability of a cumulative 25 basis point rate cut is 14.5%, and the probability of a cumulative 50 basis point rate cut is 84.9%. In October, the probability of the Fed keeping interest rates unchanged was only 5.4%, while the probability of a 25 basis point rate cut soared to 94.6%—a virtually guaranteed rate cut. Looking at December, the probability of keeping interest rates unchanged is even lower, at 0.6%, practically negligible. The probability of a cumulative 25 basis point rate cut is only 14.5%, while the probability of a cumulative 50 basis point rate cut is as high as 84.9%. Based on this trend, the Fed's next rate cut pace is likely to be even more aggressive than market expectations! Last Friday, we set a stop-loss on our short position at 3902. Every rebound is bound to be followed by a pullback. If there's no support below, the market will fall further. In the short term, we will continue to short gold around 3940, waiting for the market to pull back. For specific trading decisions, please follow my real-time updates. I will update my trading ideas and strategies daily. If you don't have a plan or idea for gold trading and can't achieve consistent and stable profits, you can refer to and follow my updates as a reference and guide to help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Gold triple top pressure, enter the short position next weekGold bulls have been quite strong recently, rallying strongly after each bottoming out. Gold has already reached a triple top, so is it forming a triple top or poised for a breakout? Due to the US government shutdown and the lack of many economic data releases, market uncertainty has increased accordingly. Last Friday, the price simply continued its rally from Thursday's bottoming out, reaching a high near 3891. While it didn't reach a new high, it did approach the high, raising market expectations for bullish momentum. However, the reality often disappoints, with no symbolic breakthrough and instead fluctuating within a small range. From a daily and weekly perspective, an overly perfect pattern could be the trigger for a bullish-bearish reversal. The current gains are significantly overbought, and while there has been some correction, the magnitude is far from sufficient. This small upward correction continues to suppress the momentum of the bears. Given that the weekly chart has already closed with seven consecutive positive days, there is reason to bet on the first signs of a bearish candlestick pattern next week. We didn't exit our short position last Friday during the pullback due to the small profit. If gold rebounds to around 3892 next Monday, we can add to our short position. For specific trading decisions, please follow my real-time updates. I will update my trading ideas and strategies daily. If you don't have a plan or strategy for gold trading and are unable to achieve consistent and stable profits, you can refer to and follow my updates as a reference and guide to help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Gold is strong. Analysis for next week.Gold rose slightly to around $3,886 in US trading on Friday, attempting to recover some lost ground. This followed a sharp correction on Thursday, with gold prices plummeting after reaching a record high of $3,896.60. The price fluctuated nearly 2% daily, ultimately closing slightly lower. From the current technical perspective, gold's overall bullish trend remains intact. The trading strategy remains focused on buying on dips, avoiding chasing rallies. On the daily chart, gold prices are trading firmly above the 5-day and 10-day moving averages, maintaining a strong technical outlook. The 4-hour chart shows a narrowing of the Bollinger Bands, suggesting that gold prices may enter a period of high-level fluctuations rather than a one-way rally on Friday. Key resistance above is around $3,900, while initial support below is $3,850. For next week's trading, we need to adapt to the rhythm of gains in the Asian and European sessions, followed by pullbacks and subsequent gains in the US session. Until a fundamental trend reversal occurs, every technical pullback is considered an opportunity to position for long positions. In the short term, we should focus on a breakout above the 3900 high. A successful breakout would open up new upside potential; conversely, a prolonged failure could lead to continued volatility. Overall, the key strategy remains bullish, but caution should be exercised against the risk of a market whipsaw amidst high volatility. Patiently waiting for a low entry point after a pullback is a more prudent approach.
OANDA:XAUUSDLong
by Market_Trader1
Continue to short gold on rallies, and a triple top is expectedGold hit bottom and rebounded again yesterday. It hit a new historical high in the U.S. market and touched the 3896 line before starting to retreat rapidly. It hit the lowest point near 3820 and continued to rebound. It rose strongly again during the day, which also indirectly shows the strength of the bulls in the short term. The key pressure above is maintained at the previous high and the upper integer level of 3900. As we mentioned before, it took the bulls only 40 days to increase by nearly 600 points. This magnitude is also the largest in history. However, after many unsuccessful attempts to break into 3900, the uncertainty brought about by the rapid rise will backfire on the gold bulls, and the formation of a short-term double top will also be our test of the arrival of the gold top. We will continue to short gold on rallies tonight. We will continue to short gold on rallies tonight. Resistance levels: 3895, 3902, 3925 Support levels: 3868, 3853, 3828 For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
TVC:GOLDShort
by Matthew_8888
Gold rises. Latest analysis.Key Points: With the federal government shutdown, Trump's consideration of firing federal employees has dampened risk appetite. The White House said the layoffs will begin soon, and Trump plans to meet with White House budget director Russell Vought to discuss the cuts. The government shutdown has halted the release of US economic data, and Fed officials' speeches have become a substitute for data, with every statement being over-interpreted by the market. The non-farm payroll data failed to be released as scheduled, marking the first time since 2013 that a government shutdown has delayed the release of key data, further increasing market uncertainty about the economic situation and Fed policy. Market Analysis: Although gold prices retreated during the European session, the factors supporting the long-term uptrend remain intact. From the 4-hour chart, the current important support level is at the 38603865 area where the MA5, 10 and 20 moving averages intersect. Although the RSI14 period indicator fell slightly, it still remained above the midline. Judging by the indicator data, any dip in price is likely to be bought quickly. Due to the data blank period on Friday, the price is likely to remain volatile at a high level today. Quaid recommends that you wait and see for a short period of time. Consider a small long position if the price pulls back to around 3860.
OANDA:XAUUSD
by Market_Trader1