Gold Trading Strategy, April 2-3

✅Gold maintained an overall volatile trend on Wednesday, with prices fluctuating repeatedly within a range. After the US market retreated on Tuesday, it did not fall below the key support level of 3100. If it effectively falls below this level in the future, it is expected to open up further downward space. The upper resistance focuses on the 3140 line. It is necessary to be vigilant that even if a new high is broken, the bullish momentum may still be limited, and short-term trading still needs to be cautious.

✅4-hour level analysis: The short-term moving average is flat, indicating that the market is in a consolidation stage and the short-term downward momentum has weakened. From the perspective of the K-line pattern, the continuous appearance of lower shadows suggests that the support below is strong, and attention should be paid to the possibility of a second pull-up after the shock repair.

✅1-hour level analysis: The moving average gradually turns around, and the trend shows a head and shoulders top pattern. The short-term may still be in a large range of fluctuations. In the second half of this week, there will be more important economic data and event-driven factors. The market may need to wait for news guidance to break the current consolidation range.

🔴Resistance level: 3138-3140
🟢Support level: 3100-3110

✅Intraday trading strategy
🔰Gold Sell: 3138-3140, Stop loss: above 3148
Target: 3120-3110, if it breaks, look to 3100
🔰Gold Buy: 3100-3103, Stop loss: below 3095
Target: 3110-3120, if it breaks, look to 3130

🔹Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Stay tuned🤝