Gold Market Analysis:
Gold's recent movements have been extremely volatile, essentially like an elevator, going straight up and down without any continuity. This buying and selling activity is largely due to the rapidly changing situation in the Middle East, causing significant market reactions. Furthermore, yesterday's June monthly close, unsurprisingly, still saw a large bearish candle, indicating that the selling pressure from the long-term correction is unstoppable. My predicted target of 3500 is likely to be reached soon. Regardless of short-term fundamental and news-driven stimuli, gold will eventually move in its expected direction after this period of significant volatility. The weekly trend remains one of continued correction. Yesterday's daily chart showed a high followed by a pullback, forming a large doji, suggesting that short-term trading will continue. Many investors have recently asked us about non-subjective market analysis. It means not constantly anticipating price movements, such as a 100-point drop followed by speculation about a rebound. These are subjective approaches to market analysis. We need to follow the trend, not guess.
Yesterday's fundamentals once again sent gold on a rollercoaster ride, leaving the market quite confused. Today, the gold market is much more relaxed. Our strategy for today is to sell at higher prices, looking for a bearish outlook. Any rebound is an opportunity to sell. Selling below 4008 indicates weakness. Our strategy today is to consider selling opportunities based on 4008. Additionally, the daily moving average resistance level is around 4023; if this level isn't broken, a rebound is unlikely.
Resistance levels: 4008 and 4023, strong resistance at 4063, support levels: 3970 and 3950. The key level for market strength/weakness is 4008.
Fundamental Analysis:
The White House has recently been intensively discussing the possibility of resuming full-scale military action against Iran. However, Trump currently prioritizes diplomatic negotiations and is willing to extend the nuclear agreement deadline to buy more time for mediation, while retaining the option of resuming war.
Trading Recommendation:
Gold – Sell around 4008, target 3980-3960.
Gold's recent movements have been extremely volatile, essentially like an elevator, going straight up and down without any continuity. This buying and selling activity is largely due to the rapidly changing situation in the Middle East, causing significant market reactions. Furthermore, yesterday's June monthly close, unsurprisingly, still saw a large bearish candle, indicating that the selling pressure from the long-term correction is unstoppable. My predicted target of 3500 is likely to be reached soon. Regardless of short-term fundamental and news-driven stimuli, gold will eventually move in its expected direction after this period of significant volatility. The weekly trend remains one of continued correction. Yesterday's daily chart showed a high followed by a pullback, forming a large doji, suggesting that short-term trading will continue. Many investors have recently asked us about non-subjective market analysis. It means not constantly anticipating price movements, such as a 100-point drop followed by speculation about a rebound. These are subjective approaches to market analysis. We need to follow the trend, not guess.
Yesterday's fundamentals once again sent gold on a rollercoaster ride, leaving the market quite confused. Today, the gold market is much more relaxed. Our strategy for today is to sell at higher prices, looking for a bearish outlook. Any rebound is an opportunity to sell. Selling below 4008 indicates weakness. Our strategy today is to consider selling opportunities based on 4008. Additionally, the daily moving average resistance level is around 4023; if this level isn't broken, a rebound is unlikely.
Resistance levels: 4008 and 4023, strong resistance at 4063, support levels: 3970 and 3950. The key level for market strength/weakness is 4008.
Fundamental Analysis:
The White House has recently been intensively discussing the possibility of resuming full-scale military action against Iran. However, Trump currently prioritizes diplomatic negotiations and is willing to extend the nuclear agreement deadline to buy more time for mediation, while retaining the option of resuming war.
Trading Recommendation:
Gold – Sell around 4008, target 3980-3960.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.