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;
Operación activa
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
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
💥 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
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.