Is Gold Returning to Its Main Uptrend After a Deep Correction?

8 Apr

🔔🔔🔔Gold news:

➡️ Gold rebounded from its monthly lows to test the $3,000 level during Asian trading on Tuesday, ending a three-day losing streak. Concerns over a potential trade war impacting the U.S. economy and triggering a recession, combined with growing expectations of more aggressive interest rate cuts by the Federal Reserve, have renewed interest in the non-yielding metal.

➡️ Tariff developments are expected to dominate market sentiment in the coming days, involving the direction of all asset classes. These tariffs are likely to drive up inflation while also slowing economic growth. Markets are forecasting a bleak outlook for the U.S. economy, which is expected to have ripple effects on other major economies. As a traditional safe-haven asset, gold is poised to resume its previous upward trend.

Personal opinion:

➡️ Gold has begun to recover and has positive signs of increase.

➡️ RSI reversed to increase after entering the oversold zone

➡️ DXY returned to the downtrend, further strengthening this recovery momentum

➡️ Analysis based on important resistance - support levels combined with EMA and trend lines to come up with a suitable strategy

Resistance zone: 3014 - 3055 - 3074
Support zone: 2980 - 2964 - 2921

Plan:
🔆Price Zone Setup:

👉Sell Gold 3013- 3015 (Scalping)
❌SL: 3019 | ✅TP: 3010 - 3005 - 3000

👉Sell Gold 3054- 3056
❌SL: 3062| ✅TP: 3050 – 3045 – 3040

👉Buy Gold 3958- 3960 (Scalping)
❌SL: 2952| ✅TP: 2965– 2970 – 2975

👉Buy Gold 2918-2929
❌SL: 2912| ✅TP: 2925– 2930 – 2935

FM wishes you a successful trading day 💰💰💰

8 Apr

Dagangan aktif

check gold
Hit + 65 pips from sell 3015
congratulation

Big profit for everyone

However, this is just a short-term trend, the main trend is still up. Take profit and enjoy to ensure safety.

8 Apr

Nota

Hit + 100 pips from sell 3015