Gold continues to pull back to the turning point!!!

4月23日

In the 4-hour chart, the price found support near the 3284 area (the recent swing low) and rebounded. Buyers stepped in at this position and set risk below this support level in an attempt to push prices higher again. Sellers hope that the price will fall below this level to push the price further down to the 3167 area.


1-hour chart


On the 1-hour chart, a short-term downward trend line can be seen, which is currently limiting the market's bullish sentiment. Sellers may establish positions near this trend line and set stops above the trend line with a target of 3167.

4月23日

交易進行

From the daily chart, gold has given up all of Monday's gains. From a risk management perspective, buyers may look for more cost-effective entry positions around the previous high of 3167 in the hope of further gains, while sellers hope that prices can break further, thereby increasing bearish bets, and the target may be the 3100 level near the key trend line.

4月23日

交易結束：目標達成

Intraday data reference:

US Markit manufacturing and service PMI preliminary values,