Gold prices could plummet if US-Iran negotiations break down
The weekend's US-Iran talks failed to yield positive results, which was actually expected. As I mentioned in previous articles, the conditions offered by both sides were difficult to meet, so the outcome of the talks was naturally unlikely to be good.
As a result, crude oil opened higher today, while gold opened lower. Judging from the current trend of gold prices, it is attempting to fill the gap.
Looking at the 1-hour chart, gold has formed a small head and shoulders pattern. Once the price breaks below 4600, it is likely to continue its decline. If the situation escalates further and crude oil rises again, gold prices will also face downward pressure. In the short term, gold will continue to be influenced by the US-Iran situation, and everyone should pay close attention.
My view on today's market is to short at higher levels. Gold is currently filling the gap, which presents a good opportunity to short. The 4740-4760 range is today's high and also the gap level. As long as it cannot be broken, it presents an opportunity to short.
As a result, crude oil opened higher today, while gold opened lower. Judging from the current trend of gold prices, it is attempting to fill the gap.
Looking at the 1-hour chart, gold has formed a small head and shoulders pattern. Once the price breaks below 4600, it is likely to continue its decline. If the situation escalates further and crude oil rises again, gold prices will also face downward pressure. In the short term, gold will continue to be influenced by the US-Iran situation, and everyone should pay close attention.
My view on today's market is to short at higher levels. Gold is currently filling the gap, which presents a good opportunity to short. The 4740-4760 range is today's high and also the gap level. As long as it cannot be broken, it presents an opportunity to short.
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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.
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.