In my previous article, I mentioned that without a de-escalation of the US-Iran tensions, the market was likely to enter another prolonged period of consolidation. I clearly stated that selling at higher levels was the primary trading strategy, and suggested that the 4100-4130 range was a good entry point. The result was predictable: gold prices fell after hitting around 4130, and are currently near the 4000 psychological level.
The renewed conflict between the US and Iran over the weekend explains the lower opening price of gold today.
Unless the situation changes in the short term, the weak and volatile pattern will continue, and repeated price fluctuations will become the norm.
Looking at the 1-hour chart for gold, the price has not yet reached the bottom support level of 3950, so further declines are possible.
The 4030-4040 range is a short-term resistance zone. If a rebound to this level fails to break through effectively, it's a good time to sell.
The renewed conflict between the US and Iran over the weekend explains the lower opening price of gold today.
Unless the situation changes in the short term, the weak and volatile pattern will continue, and repeated price fluctuations will become the norm.
Looking at the 1-hour chart for gold, the price has not yet reached the bottom support level of 3950, so further declines are possible.
The 4030-4040 range is a short-term resistance zone. If a rebound to this level fails to break through effectively, it's a good time to sell.
Daily real-time trading signals are available in the channel below ⬇️!
Free channel: t.me/Ronnie_John6
Free channel: t.me/Ronnie_John6
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.
Daily real-time trading signals are available in the channel below ⬇️!
Free channel: t.me/Ronnie_John6
Free channel: t.me/Ronnie_John6
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.