Gold → Continuously hitting new highs, where will the bears go?
After today's sharp opening, we shorted gold at 3946. After repeated testing of support at 3930, we took profit. Currently, gold continues to strengthen due to a variety of factors, including the US government shutdown, interest rate cuts, and geopolitical factors. However, the risks of chasing the price higher at this level outweigh the rewards. Gold has seen seven consecutive weeks of strong gains without a single pullback. If a pullback occurs, it would likely start at $100.
On the hourly chart, intraday pullbacks were mild and sustained, with the K-line chart maintaining a relatively strong trend along the short-term moving average. Smaller timeframes exhibited some divergence. Moreover, after gold fell back to 3930 and broke through the resistance level of 3950, it did not rise as much as before, which means that the current position is close to market expectations, and the bullish momentum is not as strong as before. We will continue to consider shorting gold on rallies in the evening.
Resistance levels: 3975, 3995
Support levels: 3930, 3900
For detailed trading decisions, please follow my real-time updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
On the hourly chart, intraday pullbacks were mild and sustained, with the K-line chart maintaining a relatively strong trend along the short-term moving average. Smaller timeframes exhibited some divergence. Moreover, after gold fell back to 3930 and broke through the resistance level of 3950, it did not rise as much as before, which means that the current position is close to market expectations, and the bullish momentum is not as strong as before. We will continue to consider shorting gold on rallies in the evening.
Resistance levels: 3975, 3995
Support levels: 3930, 3900
For detailed trading decisions, please follow my real-time updates. I will update my trading ideas and strategies daily. If you don’t have a plan or idea about gold trading and cannot achieve sustained and stable profits, you can refer to and follow my updated content as a reference and guidance to help you avoid mistakes.
Operación activa
If the price rises to around 3965, consider shorting gold.If you don't have a plan or clue about gold trading and can't achieve consistent and stable profits, you can follow my updates as a reference and guide to help you avoid mistakes.
Operación cerrada: objetivo alcanzado
If you don't have a plan or clue about gold trading and can't achieve consistent and stable profits, you can follow my updates as a reference and guide to help you avoid mistakes.
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.
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.