Gold 6.19Today's Strategy Focus1950
Gold rose on Friday, reversing its losses and rallying near the $1,960 level. It continued to fluctuate upwards, with a target high around $1,967. However, recent volatility has been evident. On one hand, there has been oscillation within a range. The market experienced a decline followed by a rise after the Federal Reserve interest rate decision, which could potentially change the situation again. However, until there is a complete breakthrough above the upper range, we should not be overly bullish on the market. After all, it is still under suppression. Without a breakthrough, it is not advisable to follow a long position with confidence. Currently, the resistance level for gold is maintained around the $1,965-$1,970 range, which has been tested multiple times without success. The support level below is held around $1,950. With a significant upward movement, there will continue to be fluctuations in the short term.
Looking at the 4-hour chart for gold, we should pay attention to the support level around $1,950, as a pullback from this level could provide an opportunity for further bullish momentum. The short-term resistance level is around $1,965-$1,970, and if there is a push higher but the price faces pressure at this level, a short position could be considered with the expectation of a pullback. Overall, if gold stabilizes above $1,940, we can expect a rebound and continuation of the upward trend. I will provide specific trading strategies during the trading session, so please stay tuned.
Key levels to watch for gold:
Resistance: $1,965-$1,973-$1,980
Support: $1,950-$1,943-$1,933
Looking at the 4-hour chart for gold, we should pay attention to the support level around $1,950, as a pullback from this level could provide an opportunity for further bullish momentum. The short-term resistance level is around $1,965-$1,970, and if there is a push higher but the price faces pressure at this level, a short position could be considered with the expectation of a pullback. Overall, if gold stabilizes above $1,940, we can expect a rebound and continuation of the upward trend. I will provide specific trading strategies during the trading session, so please stay tuned.
Key levels to watch for gold:
Resistance: $1,965-$1,973-$1,980
Support: $1,950-$1,943-$1,933
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