6.19 Will the volatile market end?
The Federal Reserve kept the benchmark interest rate unchanged at 4.25%-4.50%, and remained unchanged for the fourth consecutive meeting, increasing the pressure on gold.
This week, the market opened high and closed low every day, which fully proved that the short-selling force was strong, but the price did not fall sharply, indicating that the buying power was also strong.
As of now, the lowest price was 3348 and then rebounded. If it can stand firmly in the 3360 area, it means that 3348 should be the last bottom in the near future.
On the contrary, if it cannot stand firmly in the 3360 area, it may break the short-term rising trend line downward and fall into the long-term rising trend line.
Today, you can go long with a light position below 3360, with a target of 3380. If it falls below 3344, stop loss immediately.
If it breaks through 3380, you can increase your position and continue to go long after waiting for a decline.
Thank you for your attention, and I hope my analysis can help you.
The Federal Reserve kept the benchmark interest rate unchanged at 4.25%-4.50%, and remained unchanged for the fourth consecutive meeting, increasing the pressure on gold.
This week, the market opened high and closed low every day, which fully proved that the short-selling force was strong, but the price did not fall sharply, indicating that the buying power was also strong.
As of now, the lowest price was 3348 and then rebounded. If it can stand firmly in the 3360 area, it means that 3348 should be the last bottom in the near future.
On the contrary, if it cannot stand firmly in the 3360 area, it may break the short-term rising trend line downward and fall into the long-term rising trend line.
Today, you can go long with a light position below 3360, with a target of 3380. If it falls below 3344, stop loss immediately.
If it breaks through 3380, you can increase your position and continue to go long after waiting for a decline.
Thank you for your attention, and I hope my analysis can help you.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.