Gold quickly bottomed out and rebounded in early Asian trading. After hitting a low near 3351, it quickly rose and directly broke through last Friday's high, reaching a high near 3386, demonstrating that short-term bullish momentum persists.
From the 4-hour chart, short-term support is expected around 3365-3370. After a price correction, the bullish trend remains bullish. The short-term bullish stronghold is 3360. Until the daily chart breaks below this level, continue buying on pullbacks.
The 1-hour moving average is still diverging in a bullish direction, indicating further upside potential. Several short-term pullbacks to around 3367 have begun to rally. Therefore, it's advisable to continue buying at the 3365 support level with a light position. If gold unexpectedly breaks below 3360 and the rebound proves weak, the short-term trend of gold could weaken.
Trading strategy:
Short around 3395, stop loss at 3405, profit range 3370-3360.
Long around 3365, stop loss at 3355, profit range 3380-3390-3400.
From the 4-hour chart, short-term support is expected around 3365-3370. After a price correction, the bullish trend remains bullish. The short-term bullish stronghold is 3360. Until the daily chart breaks below this level, continue buying on pullbacks.
The 1-hour moving average is still diverging in a bullish direction, indicating further upside potential. Several short-term pullbacks to around 3367 have begun to rally. Therefore, it's advisable to continue buying at the 3365 support level with a light position. If gold unexpectedly breaks below 3360 and the rebound proves weak, the short-term trend of gold could weaken.
Trading strategy:
Short around 3395, stop loss at 3405, profit range 3370-3360.
Long around 3365, stop loss at 3355, profit range 3380-3390-3400.
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.