Current Gold Trend Analysis and Trading Recommendations

17 Haz

Gold showed a pullback after hitting a high yesterday, with a daily decline of nearly 70 USD. The daily candlestick pattern completely engulfed the previous day's gains and closed bearish. Combined with the current signals of geopolitical tensions, today's market is expected to be dominated by broad-range consolidation. From the 4-hour cycle perspective, the price broke below the middle Bollinger Band with consecutive bearish candles last night and continued to decline after being suppressed in the early morning, with technicals pointing to a consolidative and bearish pattern.

The key pivot level today is at 3,405: if the market effectively stabilizes above this level, the upper resistance will test 3,420 and 3,430 in sequence; conversely, if the suppression at 3,405 holds, the price is likely to repeatedly test the support at 3,380 and further dip to the 3,370-3,360 zone. It is recommended to wait for the decline momentum to clarify before initiating long positions, maintaining an overall range-trading strategy.

XAUUSD
buy@3375-3380
tp:3390-3400-3420

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17 Haz

İşlem aktif

The long positions in gold within the 3375-3380 range have smoothly reached the take-profit zone as expected. The market trend is highly consistent with our previous analysis. The current profit margin has reached the preset target, so it is recommended that you reduce positions or close out the positions as appropriate based on your own risk control strategies.