Gold has been going back and forth recently, with short-term gains reaching a high of 2321 and then falling rapidly. Its trend is still unable to escape the shock pattern, and it is expected to continue to maintain this trend pattern today!.
On the daily chart, gold prices continue to fluctuate, with the current price range roughly fluctuating between 2280 and 2330. In the 4-hour trend, the short-term moving average remains basically stable, indicating that the short-term trend may continue to remain volatile. Currently, the short-term price range is constrained by a narrow range from 2306 to 2320.
The 30-minute moving average shows that the short trend continues, indicating that downward pressure is still there. The price of gold is restricted by the downward trend line, and the rise is blocked, or even falls directly. The current trend line resistance is near 2318, so during the European trading period, the rebound may be limited by the trend line, and it is recommended to continue to be bearish.
On the whole, today's short-term operation of gold recommends mainly shorting on rebounds, supplemented by longs on callbacks. The top short-term focus is on the 2318-2320 resistance range, and the bottom short-term focus is on the 2300-2290 support range.
Gold Trading Strategies Reference
๐ฏStrategy 1: Go short when gold rebounds to around 2318-2320, stop loss 6 points, target around 2310-2300, break the position and look at the 2290 lineโ
๐ฏStrategy 2: Go long when gold pulls back to around 2290-2293, stop loss by 6 points, target around 2300-2310, and look at the 2320 line if the position is brokenโ