Market Review and Outlook:
During the Asian session on Wednesday, gold attracted some follow-up buying, successfully holding support around the 2630 level and moving up to face significant resistance near the 2650 mark. The ongoing geopolitical risks related to the Russia-Ukraine conflict, coupled with concerns over President-elect Trump's tariff plans, have continued to drive safe-haven flows into precious metals for the second consecutive day.
However, the upward momentum seems to be lacking strength, and with today's key economic data releases—including the initial jobless claims and the U.S. October core PCE price index year-over-year—the market may see more defined direction. Thus, we will adopt a two-way strategy for trading gold today.
Today's Trading Strategy:
Sell Zone: Short positions can be considered between the 2645-2650 range.
Buy Zone: If the price falls back to 2630, look for opportunities to go long.
Market Watch: Given the economic data releases, anticipate increased volatility and stay prepared for quick adjustments.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Always adhere to proper risk management practices and avoid overleveraging your trades.
During the Asian session on Wednesday, gold attracted some follow-up buying, successfully holding support around the 2630 level and moving up to face significant resistance near the 2650 mark. The ongoing geopolitical risks related to the Russia-Ukraine conflict, coupled with concerns over President-elect Trump's tariff plans, have continued to drive safe-haven flows into precious metals for the second consecutive day.
However, the upward momentum seems to be lacking strength, and with today's key economic data releases—including the initial jobless claims and the U.S. October core PCE price index year-over-year—the market may see more defined direction. Thus, we will adopt a two-way strategy for trading gold today.
Today's Trading Strategy:
Sell Zone: Short positions can be considered between the 2645-2650 range.
Buy Zone: If the price falls back to 2630, look for opportunities to go long.
Market Watch: Given the economic data releases, anticipate increased volatility and stay prepared for quick adjustments.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Always adhere to proper risk management practices and avoid overleveraging your trades.
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The price of short orders has been reached, brothers, pay attention!
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.