Gold falls back and looks for opportunities to go long
GOLD (US$/OZ) TVC:GOLD
Bullish momentum remains the primary trend. The market opened higher near 3368 before experiencing a period of volatile decline under pressure. Technically, the market has tested resistance and needs to adjust. Overall support at higher levels has also weakened, so it's best not to chase the market too much. Opportunistically, buy on dips and stabilization before buying.
From a 4-hour analysis, short-term resistance is expected to be near 3370-3375, with a key resistance area at 3395-3400. Support is expected at 3330-35, so consider buying on dips. In the middle, maintain a cautious wait-and-see approach. I'll provide detailed trading strategies during the trading session, so stay tuned.
Gold Trading Strategy:
Buy on dips to 3330-35, with a stop-loss at 3318 and a target at 3370-3375. Continue holding if the market breaks above.
source https://www.tradingview.com/chart/GOLD/hduV2K5b-Gold-falls-back-and-looks-for-opportunities-to-go-long/
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