6.30 Gold Market
From the weekly chart, gold closed with a large real negative last week, and the real body was larger than the K-line last week. The pattern was a continuous negative engulfing pattern, and the closing price was below the short-term 5-week moving average and the 10-week moving average, with strong downward momentum.
The opening price fell to 3244 today, indicating that the current gold price is less affected by the situation in the Middle East. Today's rebound touched 3296 and then fell again, proving that the short pressure here is very large.
In 1 hour, the overall K-line has gone out of the single needle bottoming market. If the gold price remains above 3275 today, it shows that the bulls are recovering. You can lightly long or wait and see the 3396 pressure level. If it falls below the 3275 support again today, go short, and the target is set at 3245/3205.
At present, the gold price has fallen to the daily rising trend line. If the gold price cannot rebound today, it will be difficult for the gold price to break through 3300 again this week.
Today's strategy
BUY: 3278
SL: 3270
TP: 3288
SELL: 3288
SL: 3296
TP: 3275--3240
Thank you for your attention. I hope my analysis can be helpful to you.
From the weekly chart, gold closed with a large real negative last week, and the real body was larger than the K-line last week. The pattern was a continuous negative engulfing pattern, and the closing price was below the short-term 5-week moving average and the 10-week moving average, with strong downward momentum.
The opening price fell to 3244 today, indicating that the current gold price is less affected by the situation in the Middle East. Today's rebound touched 3296 and then fell again, proving that the short pressure here is very large.
In 1 hour, the overall K-line has gone out of the single needle bottoming market. If the gold price remains above 3275 today, it shows that the bulls are recovering. You can lightly long or wait and see the 3396 pressure level. If it falls below the 3275 support again today, go short, and the target is set at 3245/3205.
At present, the gold price has fallen to the daily rising trend line. If the gold price cannot rebound today, it will be difficult for the gold price to break through 3300 again this week.
Today's strategy
BUY: 3278
SL: 3270
TP: 3288
SELL: 3288
SL: 3296
TP: 3275--3240
Thank you for your attention. I hope my analysis can be helpful to 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.