Gold is currently uncertain

Gold fell below the 2370 resistance level today, reaching its lowest point near 2350, and also fell below the rising trend line on the chart. But this does not mean that gold is currently short. Although Israel and Iran have not taken actions to escalate the conflict, the conflict may escalate at any time. Moreover, the United States has provided tens of billions of dollars in financial assistance to Ukraine and Israel, and wars in Europe and the Middle East may escalate at any time. Therefore, we should be cautious when taking short positions at present. However, we also need to be cautious if we are too bullish, because gold has currently fallen below the two support levels of 2370 and 2360, and the price may continue to decline.

Trading strategy: If the price rises to around 2375-2380, you can sell with a light position and stop loss at 2388. If the price breaks through 2380 and then falls back to 2370-2375, you can buy, and the stop loss is 2363.

Commentaire:

My current view on gold is a divergence pattern. If the price stops falling near 2344 and then rises, then the next rise will be huge. I will update the specific tips in real time
At present, it is not recommended that you sell at low prices and beware of being trapped.

Commentaire:

At present, gold has entered a downward trend in the short term. The candle line has fallen below the 200-day moving average, and the 20-day moving average has crossed below the 50-day moving average to form a dead cross. The price is expected to fall into the 2300-2319 range next, and can be sold after rebounding to the 2340-2350 range.