Gold has been trending downward throughout this week. While it has generally remained within a broad range, with minor rebounds at lows, there's still a chance it will continue its decline and find strong support. The current strong support level is 3330, and the second support level is around 3300. The upper pressure is maintained at 3350-3360. After touching this position on Friday, it was under pressure again.
From the 1-hour chart, the moving averages are currently crossing downward, and this trend is likely to continue. After hitting a high near 3375 on Thursday, the price has been fluctuating downward, trading mostly below the middle Bollinger Band. Although it rebounded slightly after hitting a low at 3329, it failed to break through the resistance level of 3350, and after coming under pressure there, it has continued its downward trend. Overall, gold bears still have momentum, and there are currently no signs of a reversal.
Therefore, we can continue our bearish trend position at the beginning of next week.
The Asian gold market is about to open. Good luck to all traders.
From the 1-hour chart, the moving averages are currently crossing downward, and this trend is likely to continue. After hitting a high near 3375 on Thursday, the price has been fluctuating downward, trading mostly below the middle Bollinger Band. Although it rebounded slightly after hitting a low at 3329, it failed to break through the resistance level of 3350, and after coming under pressure there, it has continued its downward trend. Overall, gold bears still have momentum, and there are currently no signs of a reversal.
Therefore, we can continue our bearish trend position at the beginning of next week.
The Asian gold market is about to open. Good luck to all traders.
With accurate market analysis and precise trading signals, I will lead my team to achieve geometrically multiplied profits in the gold market.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
With accurate market analysis and precise trading signals, I will lead my team to achieve geometrically multiplied profits in the gold market.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.