On Thursday, gold prices experienced a dramatic rollercoaster ride after a brief surge. In early Asian trading, prices briefly rose to around 5100, with bulls showing strong momentum. The European session was relatively calm, remaining within a range.
During the US session, gold prices plummeted due to stronger-than-expected US employment data, falling sharply by $240 to a low of around $4,878 before finding support and closing near the low. The day's volatility was extreme and caught the market off guard.
As we mentioned on Thursday, a calm market often conceals a larger trend, and a breakout from the trading range could lead to a sudden shift in market direction.
Currently, the trend remains in a corrective rebound pattern, with upward movement proving difficult. The 5000 level forms a strong resistance zone, while 4880 provides short-term support. A break below this level would likely lead to even lower lows.
For short-term trading, it is recommended to short at the 5000 level, with a profit target of around 4950-4920. The strategy remains unchanged until the release of the US January CPI data; please pay attention to the trading hours.
During the US session, gold prices plummeted due to stronger-than-expected US employment data, falling sharply by $240 to a low of around $4,878 before finding support and closing near the low. The day's volatility was extreme and caught the market off guard.
As we mentioned on Thursday, a calm market often conceals a larger trend, and a breakout from the trading range could lead to a sudden shift in market direction.
Currently, the trend remains in a corrective rebound pattern, with upward movement proving difficult. The 5000 level forms a strong resistance zone, while 4880 provides short-term support. A break below this level would likely lead to even lower lows.
For short-term trading, it is recommended to short at the 5000 level, with a profit target of around 4950-4920. The strategy remains unchanged until the release of the US January CPI data; please pay attention to the trading hours.
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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.