Gold: Today’s short-term trading opportunities

5 mars

Gold has risen in the past two days due to risk aversion, reaching a high of 2927 before starting to fall, and rebounded and consolidated at 2900. If risk aversion is alleviated, then gold shorts will make a comeback. Gold rebounds below 2927 in the Asian session and continues to sell at highs. Gold rebounds above 2920 and can continue to short.

Gold's 1-hour moving average is now starting to diverge upwards in a golden cross, reflecting a bullish trend. However, gold's rise was blocked and then fell back. In addition, there are many data in the second half of this week, so the shape of the gold moving average is easy to change. Yesterday, gold rebounded in the second half of the NY market and continued to fall under pressure near 2920. Wait for a rebound in the Asian session and continue to sell!

Key points:
First support: 2903, second support: 2886, third support: 2873

First resistance: 2928, second resistance: 2936, third resistance: 2948

Operation ideas:
BUY: 2896-2899, stop loss 2887, target 2920-2930;

SELL: 2923-2927, stop loss 2935, target 2905-2895;

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Trade fermée manuellement

If you followed the buy signal, you have made a profit of 200 pips. You can close the order.