Gold closed higher again yesterday, marking its fourth consecutive day of gains on the daily chart, reaching a new weekly high of 4166. However, the 10-day and 7-day moving averages on the daily chart converge around 4056, the MACD histogram hasn't expanded significantly, the RSI indicator is above the 50 level, and the price is maintaining its position in the upper half of the Bollinger Bands. On the shorter-term 4-hour and 1-hour charts, the Bollinger Bands are widening upwards, and the moving average system is also trending upwards. Technically, gold maintains an upward structure, suggesting a buy-on-dips strategy.
The price has steadily risen, successfully holding above the 4100 level, and the short-term bullish structure remains intact. On the daily chart, consecutive pullbacks have stabilized, with higher lows and moving averages gradually turning upwards, indicating an overall upward shift in the market's center of gravity. While the trend is bullish, the pace is one of gradual, sideways consolidation, with minor pullbacks expected during the upward movement. Buying at support levels is recommended.
Support: 4100/4086/4072, Resistance: 4168/4187/4200.
My suggestions:
BUY: 4090-4100, SL: 4060, TP: 4150-4200;
SELL: 4180-4190, SL: 4220, TP: 4130-4100;
The price has steadily risen, successfully holding above the 4100 level, and the short-term bullish structure remains intact. On the daily chart, consecutive pullbacks have stabilized, with higher lows and moving averages gradually turning upwards, indicating an overall upward shift in the market's center of gravity. While the trend is bullish, the pace is one of gradual, sideways consolidation, with minor pullbacks expected during the upward movement. Buying at support levels is recommended.
Support: 4100/4086/4072, Resistance: 4168/4187/4200.
My suggestions:
BUY: 4090-4100, SL: 4060, TP: 4150-4200;
SELL: 4180-4190, SL: 4220, TP: 4130-4100;
💥 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
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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.
💥 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
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.