Data week. Focus on trend continuation.

3일 전

This week's intensive data release could be a catalyst for market volatility:

Due to data delays caused by the government shutdown, a large amount of economic data will be released this week. Tuesday: September PPI, September retail sales, October pending home sales. Wednesday: Durable goods orders, Q3 GDP preliminary estimate, PCE price index, new home sales, initial jobless claims. The market will be closed on Thursday for Thanksgiving, and there will be no major data releases on Friday.

Market Analysis:

Gold initially fell before rising on Friday, briefly dipping to the 4022 level before a bullish reversal, and has been hovering around the previous resistance level of 4100 for an extended period. Currently, there is no clear direction.

The daily chart shows that since encountering short-term resistance at 4110, each attempt to bottom out has been followed by a rebound. Therefore, this is a strong rebound, not a reversal. However, without significant positive news, further upward movement at the previous resistance level of 4110 will be difficult.

In the short term, the key level to watch is the breakout of the triangle pattern. Support is at $4020, and resistance is at $4110. A breakout from this range will likely lead to further continuation of the trend.

After rebounding last Friday, it failed to hold $4,100. The highs have been moving lower and the lows have been moving higher, and the trading range has begun to narrow. This is a good thing, meaning that a one-sided trend is coming soon.

Short-term trading strategy:

Buy in batches between 4020 and 4030, with a stop loss at 4010. The profit target is the resistance level at 4100.

Short sell with a small position when the price first touches around 4110, aiming for a profit of 40-50 points.

3일 전

액티브 트레이드

Prices are rebounding slightly. Please consider your account balance and take profits at appropriate points.

그저께

거래청산: 타겟 닿음

Gold prices are about to reach the resistance level of 4100. Traders who went long at the low point should take profits in time.