Today’s Gold Up and Down Trading Strategy
Gold technical prospects are analyzed.Spot gold suddenly fell to $2,305 in the short term and then rebounded to around $2,320.
The near-term outlook for gold has turned neutral, with bulls seemingly unwilling to give up.
On Thursday, the U.S. will publish preliminary first-quarter gross domestic product (GDP) data, which is expected to show annualized growth of 2.5% in the three months to March. Gold prices are trading between the 20-period SMA and Trading below the 100-period SMA, with the former accelerating below the latter, is often seen as a signal of increased selling pressure. Meanwhile, technical indicators remain negative, the momentum indicator is rising, and the Relative Strength Index (RSI) is consolidating around 43.
If gold prices break through $2343.00, this will halt the bearish correction and push gold prices back to the main bullish trajectory.
The latest important support and resistance levels for gold prices:
Support levels: $2310.00; $2295.20; $2282.90
Resistance: $2343.30; $2361.55; $2372.90
Today's expectations for gold prices are mostly volatile.
Trading idea: Trade short gold after a rebound, or trade long after a decline.
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تم فتح الصفقة:
Gold prices are now above $2,320, with some upside ahead of a pullback, where aggressive investors can go short
تم فتح الصفقة:
The market trend is consistent with my prediction. Now the gold price has reached a relatively high level. You can add short positions here.
تم فتح الصفقة:
Gold is currently oscillating within a narrow range around $2,325. We can now observe the market trend and then make a judgment for trading.
تم فتح الصفقة:
Now that gold has exceeded $2,330, it has fallen below 2,330. The next trend will depend on the impact of the release of the number of initial jobless claims (ten thousand people) in the United States in the week to April 20 on gold.
تم فتح الصفقة:
Data release is negative for gold, but market volatility is relatively large, so trade with caution
