Gold maintains upward fluctuation

31 oct. 2024

🔶Yesterday, the price of gold entered a slow upward rhythm after testing the resistance. Overall, it remained in the upward channel of the daily line, but the price fell back after being under pressure at the top of the channel. The current key support level below is 2758.

🔶From the 4-hour chart, the price of gold entered a new upward channel after the previous triangle convergence and breakthrough upward. However, the price fell back after touching the 2790-line center, and is currently hovering near the bottom of the channel at 2778.

🔶On the 1-hour chart, gold formed a double-top fallback pattern at the 2790 line, testing the 2771-2768 support area downward. If the support in this area is effective, the price of gold may form a high-level horizontal oscillation range.

🔶Overall, gold is in the adjustment stage after rising, and the operation can maintain the idea of ​​selling high and buying low within the range.

🔴The upper short-term focus is on the 2787-2790 resistance range
🟢The lower short-term focus is on the 2768-2771 support range

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31 oct. 2024

Transaction en cours

Gold Trading Strategies, October 31

🎯Strategy 1: Gold Sell 2800-2805, SL 6-8$, TP 2790-2780, Breaking position looks to 2770 line✅

🎯Strategy 2: Gold Buy 2768-2770 , SL 6-8$, TP 2785-2795, Breaking position looks to 2805 line✅

⚠️The trend of the gold market may change rapidly, and the trading strategy may be adjusted in real time. Investors are advised to place orders carefully and manage account funds and position reasonably. If you have no sufficient confidence in the transaction, you can contact me at any time, and I will be patient with a professional perspective to provide you with guidance, and strive to help you achieve long -term and stable benefits.

31 oct. 2024

Transaction en cours

Gold rebounded after falling to 2773, and tested the resistance of 2782-2784 in the short term. If it breaks above this position, it will return to the previous rising channel. If it weakens under pressure at this position, it will maintain a downward breakout structure in the short term.

31 oct. 2024

Transaction en cours

After the gold price broke down, the bears entered the stage of accelerated decline, and the price trend has also fallen below the daily central support. Currently, gold is experiencing a short-term rebound from a low level. Pay attention to the resistance of 2758-2760 above.