3.21 Gold Short-term Analysis and Operation Suggestions
Gold hit a record high on Thursday (March 20) after the Federal Reserve hinted that it might cut interest rates twice this year, further enhancing the attractiveness of gold amid the current geopolitical and economic tensions. As of press time, spot gold was basically stable near $3,030, having hit a record high of $3,057.21.
——Gold Technical Analysis
From the daily chart, the volume indicator is firmly aiming higher, supporting another wave of gains, while the relative strength index (RSI) is stable near 72. At the same time, the price of gold is trading above all its moving averages, with the 20-day simple moving average (SMA) providing dynamic support near 2,936. From the 4-hour chart, technical indicators have eased from extreme levels, but are far from indicating an imminent downtrend. In addition, the 20-period SMA continues to rise steadily, currently around 3,011, while well above the longer-term moving average. Overall, Zhang Jinglin recommends rebounding and shorting as the main operation of gold today!
Gold short-term operation strategy:
SELL: 45 Stop loss 55
TP1:35
TP2:25
TP3:10
——Gold Technical Analysis
From the daily chart, the volume indicator is firmly aiming higher, supporting another wave of gains, while the relative strength index (RSI) is stable near 72. At the same time, the price of gold is trading above all its moving averages, with the 20-day simple moving average (SMA) providing dynamic support near 2,936. From the 4-hour chart, technical indicators have eased from extreme levels, but are far from indicating an imminent downtrend. In addition, the 20-period SMA continues to rise steadily, currently around 3,011, while well above the longer-term moving average. Overall, Zhang Jinglin recommends rebounding and shorting as the main operation of gold today!
Gold short-term operation strategy:
SELL: 45 Stop loss 55
TP1:35
TP2:25
TP3:10
Dagangan aktif
The market has been very volatile recently, with opportunities and risks coexisting. Control risks first, then make profits.I always insist that profitability is the only standard of strength, and I never make ambiguous analyses. I have my own trading style, and I have never failed in the past year. Others have been on the bus for a long time, but you are still hesitating whether to cross the red light. Hesitation will lead to failure. Follow my pace and gain wealth.
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