Gold rebounded after testing lower levels yesterday, showing signs of strengthening, but this wasn't enough to establish a bullish reversal. The main resistance level for gold today remains in the 4720-4740 area. As gold prices fell under pressure, upward momentum gradually weakened, and the upper resistance effectively suppressed prices, leading to a return to a weak correction in the short term.
Gold faces significant upward pressure in the short term and is likely to undergo a technical correction. However, the repeated tests and rebounds have provided good support below. Therefore, we should not blindly short gold before it breaks below the recent key support area of 4660-4640. Overall, gold is expected to remain within the 4740-4640 range in the short term.
Short-term technical support levels: 4660-4640 / 4610-4590
Short-term technical resistance levels: 4700-4720 / 4740-4760
Therefore, in terms of short-term trading, before gold breaks out of the consolidation range, I tend to go long on gold in the 4665-4645 range; of course, if gold rebounds to the 4715-4735 range, I will also consider going short on gold.
Gold faces significant upward pressure in the short term and is likely to undergo a technical correction. However, the repeated tests and rebounds have provided good support below. Therefore, we should not blindly short gold before it breaks below the recent key support area of 4660-4640. Overall, gold is expected to remain within the 4740-4640 range in the short term.
Short-term technical support levels: 4660-4640 / 4610-4590
Short-term technical resistance levels: 4700-4720 / 4740-4760
Therefore, in terms of short-term trading, before gold breaks out of the consolidation range, I tend to go long on gold in the 4665-4645 range; of course, if gold rebounds to the 4715-4735 range, I will also consider going short on gold.
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.