📈The recent strong bullish momentum in gold finally saw a technical correction on Friday. After Friday’s pullback, the previous robust upward trend has softened slightly. Gold came under pressure at the intraday high around 4379 and pulled back to a low near 4186, representing a nearly 200 downward move. This perfectly illustrates that the stronger the bullish momentum, the larger the pullback range,bulls and bears complement each other.
I have also repeatedly warned everyone against chasing long positions at high levels, as such trades carry significant risks. In practice, I also timely reminded everyone to take profits and exit positions, emphasizing that risk awareness must be a top priority.
💎Outlook for Next Week
When the market opens next week, we will first focus on the resistance around the 4280-4295 range. If this level fails to be broken, gold will likely enter a short-term technical correction phase, and the current bullish cycle will be put on hold temporarily.
we should currently focus on the short-term resistance around the 4280-4295 range, with key attention on the resistance near the 4315-4325 level. On the downside, monitor the support around the 4185-4195 range.
If the bulls fail to achieve a sustained breakthrough above these resistance levels, gold will likely enter a period of oscillating correction in the subsequent sessions.
For trading operations, prioritize seizing opportunities within the aforementioned range. Adopt a "watch more, trade less" approach for prices in the middle of the range,avoid chasing trades recklessly and wait patiently for entry points at key levels.
I have also repeatedly warned everyone against chasing long positions at high levels, as such trades carry significant risks. In practice, I also timely reminded everyone to take profits and exit positions, emphasizing that risk awareness must be a top priority.
💎Outlook for Next Week
When the market opens next week, we will first focus on the resistance around the 4280-4295 range. If this level fails to be broken, gold will likely enter a short-term technical correction phase, and the current bullish cycle will be put on hold temporarily.
we should currently focus on the short-term resistance around the 4280-4295 range, with key attention on the resistance near the 4315-4325 level. On the downside, monitor the support around the 4185-4195 range.
If the bulls fail to achieve a sustained breakthrough above these resistance levels, gold will likely enter a period of oscillating correction in the subsequent sessions.
For trading operations, prioritize seizing opportunities within the aforementioned range. Adopt a "watch more, trade less" approach for prices in the middle of the range,avoid chasing trades recklessly and wait patiently for entry points at key levels.
İşlem aktif
We look forward to seeing how gold’s movement will unfold on Monday.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.