Gold is trading in a high-level oscillation today with intense long-short dynamics. While strong fundamental supports such as Federal Reserve rate cut expectations underpin the price, upward momentum is constrained by profit-taking activities. In early trading, a surge in profit-taking sales triggered a sharp intraday decline; although the price rebounded subsequently, the momentum and sustainability remained weak. Overall, gold has oscillated within a high range
Going forward, focus should be on the U.S. November ISM Manufacturing PMI data and Fed policy developments. If gold breaks below the $4,200 support level, it is likely to move toward the $4,173 – $4,180 range.
In terms of resistance: The immediate short-term resistance lies around $4,230, where the price has faced repeated rejection during rebounds— a breakthrough is required to unlock further upside momentum. The $4,260 – $4,270 range represents a key resistance zone that bulls have failed to breach in multiple recent attempts, boasting strong selling pressure. On the daily chart, a breakout above $4,280 is necessary to break the triangular consolidation pattern and initiate a new upward cycle.
Trading Strategy：
Buy 4200-4210
SL 4185
TP 4230 - 4240 - 4250
Sell 4225 - 4230
SL 4235
TP 4200 - 4195 - 4190
Going forward, focus should be on the U.S. November ISM Manufacturing PMI data and Fed policy developments. If gold breaks below the $4,200 support level, it is likely to move toward the $4,173 – $4,180 range.
In terms of resistance: The immediate short-term resistance lies around $4,230, where the price has faced repeated rejection during rebounds— a breakthrough is required to unlock further upside momentum. The $4,260 – $4,270 range represents a key resistance zone that bulls have failed to breach in multiple recent attempts, boasting strong selling pressure. On the daily chart, a breakout above $4,280 is necessary to break the triangular consolidation pattern and initiate a new upward cycle.
Trading Strategy：
Buy 4200-4210
SL 4185
TP 4230 - 4240 - 4250
Sell 4225 - 4230
SL 4235
TP 4200 - 4195 - 4190
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.