GOLD reaches the key position 2888
Gold bottomed out and rebounded in the late trading, and the long and short cycles repeated. From the daily level, the technical indicators of the gold market showed a clear divergence and were in a serious overbought range. According to the principles of technical analysis, there is a strong demand for adjustment in the market. Against this background, the price of gold fell sharply on Tuesday and Wednesday.
At present, the price of gold has effectively fallen below the support of the short-term moving averages MA5 and MA10, and today's opening price is below these two moving averages. And it has turned into strong resistance, thus pushing the price of gold to continue its downward trend. Technically, it is also necessary to judge by the combination of closing lines at the weekly and monthly levels, so it is temporarily regarded as a normal correction cycle. This correction cycle is triggered by the current small double top.
After the top structure of the gold 1-hour high, the decline broke through. We insist on being bearish on gold in the past two days. The rebound is an opportunity for shorts. Gold has now begun to form counter-pressure at 2920. Gold rebounds below 2920 and continues to be short at highs. The current short-term moving averages MA5 and MA10 have two pressure levels of 2928 and 2935!
If the gold price can rise strongly and break through the above resistance area, then today's adjustment will only be short-lived, and gold will continue to rise. If there is no breakthrough, then gold will most likely continue to fall. Focus on the support strength near the low point of 2888. Once this point is lost, it may trigger a further decline in the gold price.
After a night of rebound correction, gold touched the 2920 line and began to fall again. The current market direction has not changed, and it is still short. When the market rebounds to the top, we should go short without hesitation! Go short directly below 2928 in the Asian session!
After the previous two rounds of repeated bottoming out and rebounding, it is actually a market wash. Even with the current two rounds of rebound, the high point has not been able to break through the high point of the previous wave, which means that the shorts are in an advantageous stage, and the market is easy to fall and difficult to rise, and a new low after the intraday adjustment is just around the corner! So the intraday operation idea is to go short on the rebound!
Key points:
First support: 2902, second support: 2890, third support: 2880
First resistance: 2920, second resistance: 2928, third resistance: 2935
Operation ideas:
BUY:2887-2890, SL:2889, TP:2910-2920;
SELL:2925-2928, SL:2937, TP:2900-2890;
At present, the price of gold has effectively fallen below the support of the short-term moving averages MA5 and MA10, and today's opening price is below these two moving averages. And it has turned into strong resistance, thus pushing the price of gold to continue its downward trend. Technically, it is also necessary to judge by the combination of closing lines at the weekly and monthly levels, so it is temporarily regarded as a normal correction cycle. This correction cycle is triggered by the current small double top.
After the top structure of the gold 1-hour high, the decline broke through. We insist on being bearish on gold in the past two days. The rebound is an opportunity for shorts. Gold has now begun to form counter-pressure at 2920. Gold rebounds below 2920 and continues to be short at highs. The current short-term moving averages MA5 and MA10 have two pressure levels of 2928 and 2935!
If the gold price can rise strongly and break through the above resistance area, then today's adjustment will only be short-lived, and gold will continue to rise. If there is no breakthrough, then gold will most likely continue to fall. Focus on the support strength near the low point of 2888. Once this point is lost, it may trigger a further decline in the gold price.
After a night of rebound correction, gold touched the 2920 line and began to fall again. The current market direction has not changed, and it is still short. When the market rebounds to the top, we should go short without hesitation! Go short directly below 2928 in the Asian session!
After the previous two rounds of repeated bottoming out and rebounding, it is actually a market wash. Even with the current two rounds of rebound, the high point has not been able to break through the high point of the previous wave, which means that the shorts are in an advantageous stage, and the market is easy to fall and difficult to rise, and a new low after the intraday adjustment is just around the corner! So the intraday operation idea is to go short on the rebound!
Key points:
First support: 2902, second support: 2890, third support: 2880
First resistance: 2920, second resistance: 2928, third resistance: 2935
Operation ideas:
BUY:2887-2890, SL:2889, TP:2910-2920;
SELL:2925-2928, SL:2937, TP:2900-2890;
تم فتح الصفقة
If you have followed my strategy and have made more than 50 pips, please protect your profits, close some positions, and move SL 
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t.me/JungoldAnalyst
✅Contact me
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منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.