Gold falls from highs, can prices rise again?

7 hari lalu

After a strong rise, the recent trend of gold prices shows a certain degree of correction.
The current gold price is approaching the key support range of Fibonacci retracement, especially the 0.236 and 0.382 levels, which are located near $2889.82 and $2905.66 respectively. This area may provide support to the price and prompt a rebound.
The observed 0.618 retracement level ($2931.25) is an important pressure level. If the gold price breaks through this level, the upward momentum may be restored.

The current rising trend channel marks the trend of gold prices. The current price is below the trend channel, which may mean that the price will continue to be under pressure in the short term.
When the price approaches the support line area (near $2882.23), if there is a rebound, it may re-challenge the upper limit of the upward channel.

Price rebound expectation:
Hourly trend and support level, gold prices are likely to rebound in the current support range. If gold finds support near $2,882, it may move closer to $2,900 again, or even break through higher levels (such as the $2,920 area).

Support and resistance levels:
Short-term support levels are around $2,882.23 and $2,879.86. If the price breaks through these support levels, it may further drop to lower price levels, such as the $2,790.11 area.
The upper pressure level is above $2,930. If it breaks through this position, gold may continue to rise.

Overall, the current gold price is in a correction range, pay attention to the support level and Fibonacci retracement level. If the price can find support around $2,880 and rise to around $2,900, there may be an opportunity to rise in the short term. However, if the key support level is broken, it may cause the price to continue to fall. Investors should pay close attention to market dynamics and make corresponding trading decisions near key technical levels.

6 hari lalu

Dagangan aktif

At present, gold will rebound in the short term, and the rebound position is obviously still around 2880, because this is a double bottom pattern. Today's K-line rebounded. Unless it falls below 2830, it will completely enter the bearish era, otherwise it will still be dominated by bulls.

The gold hourly line has seriously deviated from the track again and encountered strong support. It is also an obvious double bottom pattern. The support below is still strong, and the daily level step-by-step rising structure has not been broken.

Gold strategy layout: bulls around 2880-2885, target 2900-2910, stop loss 2860.