Todays market action is still very simple. Apply the trading mantra: when the Asia session drops, the European session continues. Before the US session, there will definitely be a rebound—then a wave of shorts will follow.
Earlier this morning, I already mentioned that gold has been trading in a range of 4300–4370 recently. As long as the price has not made a valid breakout, the main approach is still to sell at the high and buy at the low. This idea remains unchanged for now.
From a technical perspective, the lowest gold price touched 4308 USD, close to the bottom of the trading range. On the sub-chart indicators, the KDJ lines are oversold and show signs of turning upward. Therefore, a rebound and correction are possible.
For the next steps, first wait patiently for the initial rebound after which the first short can be executed. Watch for resistance around 4335–4345. If the rebound is rejected in that resistance zone, you can consider entering shorts to capture the first touch, and then continue to monitor support at 4300. If gold keeps rebounding and breaks above 4345, you can cautiously add a long position, targeting around 4370附近#黄金 #伦敦金 $XAUT
Earlier this morning, I already mentioned that gold has been trading in a range of 4300–4370 recently. As long as the price has not made a valid breakout, the main approach is still to sell at the high and buy at the low. This idea remains unchanged for now.
From a technical perspective, the lowest gold price touched 4308 USD, close to the bottom of the trading range. On the sub-chart indicators, the KDJ lines are oversold and show signs of turning upward. Therefore, a rebound and correction are possible.
For the next steps, first wait patiently for the initial rebound after which the first short can be executed. Watch for resistance around 4335–4345. If the rebound is rejected in that resistance zone, you can consider entering shorts to capture the first touch, and then continue to monitor support at 4300. If gold keeps rebounding and breaks above 4345, you can cautiously add a long position, targeting around 4370附近#黄金 #伦敦金 $XAUT
