From the short-term trend hourly level, gold prices had a short correction after last week’s strong rise, but they were quickly recovered and then rose again, so there is no obvious reference support level. Today’s overall volatility is biased. Without the influence of data and news, gold does not have the basis for a big rise or fall.
There are signs of a retracement, but it is also trading around 3200. Since it is a high-level oscillation and consolidation trend, we can continue to implement the idea of rebounding and shorting. So far, the price has maintained a relatively high level of 3193-3230 for repeated consolidation. Pay attention to the effective gains and losses of the MA10-day moving average; if it closes with a big negative line, it will pull back in the short term and gradually move closer to the middle track; if it closes with a long lower shadow K line, it will not go down for the time being and will continue to consolidate at a high level.
Overall operation idea:
Short-term gold 3200-3203 long, stop loss 3192, target 3230-3240;
Short-term gold 3245-3248 short, stop loss 3257, target 3200-3210;
Key points:
First support level: 3210, second support level: 3200, third support level: 3192
First resistance level: 3232, second resistance level: 3246, third resistance level: 3268
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