Clear Outlook for Gold Rebound: Bulls May Retest 2753
At today’s opening, gold formed a long lower shadow, indicating that support remains intact. Currently, the MA5 is undergoing a shift from support to resistance, which, if successful, could signal a short-term bullish trend and a potential move higher.
I expect gold to approach the MA60, around 2745, followed by a pullback to retest the MA5 to confirm support, potentially reaching 2753. Thus, buy orders placed on Friday may see profits today.
However, as we approach the New York session, gold may encounter downward pressure. The daily chart shows a notable bearish divergence, suggesting a long-term trend shift. Barring a major bullish catalyst, this divergence may only resolve through further declines or consolidation. Iran’s possible retaliation could serve as a pivotal event.
Meanwhile, tomorrow’s U.S. election is expected to bolster the dollar, potentially adding pressure on gold. Today’s strategy favors buying, but attention should shift to selling opportunities tomorrow.
I expect gold to approach the MA60, around 2745, followed by a pullback to retest the MA5 to confirm support, potentially reaching 2753. Thus, buy orders placed on Friday may see profits today.
However, as we approach the New York session, gold may encounter downward pressure. The daily chart shows a notable bearish divergence, suggesting a long-term trend shift. Barring a major bullish catalyst, this divergence may only resolve through further declines or consolidation. Iran’s possible retaliation could serve as a pivotal event.
Meanwhile, tomorrow’s U.S. election is expected to bolster the dollar, potentially adding pressure on gold. Today’s strategy favors buying, but attention should shift to selling opportunities tomorrow.
Trade ativo
Your orders always hit SL? But friends in the channel hit TP.
Gold is now fluctuating in a small range, which is a very good scalping opportunity. Do you want to seize it?
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.