The adjustment is not over yet, continue to short on rebound
Yesterday, as expected, gold continued its upward trend before retreating, closing with a bearish candlestick pattern with upper and lower shadows. Over the past few days, the market has consistently shown a pattern of prices initially falling from a high before reaching a new high and then plummeting, or initially reaching a low and then breaking a new low before rebounding.
As shown in the above chart, downward support remains strong. Yesterday, after testing the lower limit of the rising trendline, the price began to rebound and is currently testing resistance at the middle limit of the hourly boll line. Today will see the non-farm payroll data. Due to the US government shutdown, there's still uncertainty about whether it will be released, and yesterday's initial jobless claims were also delayed. Regardless of whether the data is released tonight, technically, we can consider the 3895-3820 range.
Trading Recommendation: Short near yesterday's high, long near yesterday's low. Watch for a break of the 3868-3852 range in the Asian session.
Resistance: 3862, 3868, 3885
Support: 3852, 3843, 3828
For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don't have a plan or idea for gold trading and can't achieve consistent and stable profits, you can refer to and follow my updates as a reference and guide to help you avoid mistakes.
As shown in the above chart, downward support remains strong. Yesterday, after testing the lower limit of the rising trendline, the price began to rebound and is currently testing resistance at the middle limit of the hourly boll line. Today will see the non-farm payroll data. Due to the US government shutdown, there's still uncertainty about whether it will be released, and yesterday's initial jobless claims were also delayed. Regardless of whether the data is released tonight, technically, we can consider the 3895-3820 range.
Trading Recommendation: Short near yesterday's high, long near yesterday's low. Watch for a break of the 3868-3852 range in the Asian session.
Resistance: 3862, 3868, 3885
Support: 3852, 3843, 3828
For specific trading decisions, please follow my live updates. I will update my trading ideas and strategies daily. If you don't have a plan or idea for gold trading and can't achieve consistent and stable profits, you can refer to and follow my updates as a reference and guide to help you avoid mistakes.
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If you don't have a detailed trading plan for gold, follow my updates. I'll update my strategies and ideas daily for your reference, helping you avoid detours on your trading journey.
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Join my telegram channel for free- t.me/GoldBitcoinSharing To follow the link, click on the globe icon on the next line
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.