7/8: Inverse Head and Shoulders Pattern, Support at 3321–3312

6 hari lalu

Good morning, everyone!

Yesterday, gold broke below the 3321 support during the session, dropped to around 3296, then staged a strong rebound back toward the opening price—forming a classic deep V-shaped reversal and regaining support above the MA60 on the daily chart.

The market remains in a consolidation phase between the MA20 and MA60 on the 1D chart, with no clear directional breakout yet.

On the 30-minute chart, the previous head-and-shoulders top pattern has been completed with the recent decline. The current structure can be tentatively viewed as the formation of a head-and-shoulders bottom.

If this bullish reversal pattern holds:

The 3321 level must act as valid support during any pullback; deeper confirmation may come from 3312, which corresponds to the previous left shoulder low. Although this was partially driven by a data-related spike, most candle bodies remained around 3321—so 3321 is the primary support, and 3312 is the backup.

If confirmed, the price may advance toward the 3360 target zone.

If the pattern fails, watch for the development of a double bottom formation, with MA60 on the daily chart remaining a key support level.

📌 For today, focus on trading within the 3312–3352 range, using a buy-low/sell-high approach, and stay flexible in response to evolving chart patterns.

5 hari lalu

Dagangan aktif

Gold has declined to a key support area, but no clear sign of a bottom has formed yet. A light long position may be considered, but traders should remain cautious—there is still uncertainty around the validity of this support level.

Recommended approach:

Start with light positions, keeping risk tightly controlled;

If a clear bullish signal emerges, consider adding to the position;

If the price rebounds and stalls at resistance, be ready to switch to short setups.

Always remember: profits are built gradually, and in uncertain conditions, caution and patience often lead to better outcomes than aggressive moves.

5 hari lalu

Dagangan ditutup: sasaran tercapai

Gold rebounded into the resistance zone during the session but failed to break through effectively, followed by a sharp decline below the 3300 level. On the 2-hour chart, the key resistance lies in the 3312–3318 area—if this zone is not breached convincingly, the price is likely to face continued downward pressure.

Given the current technical setup, the recommended strategy is to prioritize selling on rebounds, while waiting for a clear bottoming signal before considering long positions.

📌 Key technical levels to monitor:

The MA60 on the daily chart (1D) serves as a critical support level to watch;

The MA10 on the 2-hour chart (2H) also provides guidance for short-term trend direction.

Stay patient and flexible, trade with the trend, and keep risk under tight control.