First resistance: 4480; second resistance: 4505; third resistance: 4523
First support: 4435; second support: 4408; third support: 4387
Gold continues to show a tug-of-war between bulls and bears on the daily chart. Resistance from the 10-day and 7-day moving averages (MA) has shifted lower to 4490/4485, while the RSI indicator remains below the midline. On the shorter-term 4-hour and 1-hour charts, Bollinger Bands are narrowing, and moving averages are converging. Gold is expected to maintain a wide range of oscillation and consolidation; intraday trading should focus on a "sell high, buy low" strategy within this range.
Yesterday, gold spiked before pulling back, continuing its pattern of volatility. The initial surge was driven by a sharp drop in crude oil prices; the market grew optimistic about a potential agreement regarding US-Iran tensions, causing oil to fall and gold to rise. However, the subsequent pullback was triggered by expectations of a significant easing in global geopolitical risks; amidst strength in US stocks and the US Dollar Index, capital flowed out of gold as safe-haven sentiment cooled. Pay close attention to the impact of today's Non-Farm Payrolls (NFP) data!
My recommendations:
BUY: 4420-4430, SL: 4400, TP: 4480-4510;
SELL: 4500-4510, SL: 4530, TP: 4450-4420;
First support: 4435; second support: 4408; third support: 4387
Gold continues to show a tug-of-war between bulls and bears on the daily chart. Resistance from the 10-day and 7-day moving averages (MA) has shifted lower to 4490/4485, while the RSI indicator remains below the midline. On the shorter-term 4-hour and 1-hour charts, Bollinger Bands are narrowing, and moving averages are converging. Gold is expected to maintain a wide range of oscillation and consolidation; intraday trading should focus on a "sell high, buy low" strategy within this range.
Yesterday, gold spiked before pulling back, continuing its pattern of volatility. The initial surge was driven by a sharp drop in crude oil prices; the market grew optimistic about a potential agreement regarding US-Iran tensions, causing oil to fall and gold to rise. However, the subsequent pullback was triggered by expectations of a significant easing in global geopolitical risks; amidst strength in US stocks and the US Dollar Index, capital flowed out of gold as safe-haven sentiment cooled. Pay close attention to the impact of today's Non-Farm Payrolls (NFP) data!
My recommendations:
BUY: 4420-4430, SL: 4400, TP: 4480-4510;
SELL: 4500-4510, SL: 4530, TP: 4450-4420;
تم فتح الصفقة
The support level below held, and a rebound is expected to reach nearly $20. 
💥 Full-time finance professional.
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
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.
💥 Full-time finance professional.
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
💥More than 11 years of experience in gold trading
⬇️I will guide you to profitability.
My Telegram : t.me/JungoldAnalyst
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.