Last week, the price of gold sharply declined after hitting the resistance level of $3,500, dropping to around $3,260 at its lowest point. The weekly chart closed with a bearish inverted hammer candlestick pattern, suggesting a sharp short-term downward momentum. However, on Friday evening, the gold price rebounded near the support level of $3,260 and regained the $3,300 mark. Combining the current fundamental and news-driven analysis, gold remains in an overall upward trend:
Technical Analysis
Although the weekly inverted hammer pattern indicates selling pressure at higher levels, the rapid rebound from the bottom to reclaim the key $3,300 level signals the persistence of bullish momentum. If the short-term decline fails to effectively break below the strong support at $3,250, the gold price has the potential for a rebound.
Trading Strategy
Next week, it is recommended to adopt a bullish bias and focus on long positions. Consider entering near $3,283, with a stop-loss set below $3,260. The upper resistance levels are sequentially $3,331 (short-term resistance) and $3,370 (target after breakthrough).
Risk Warning
Be vigilant against shocks to gold prices from sudden geopolitical news or changes in Federal Reserve policy expectations, and strictly control position sizing and stop-loss levels.
I hope this strategy will be helpful to you.
When you find yourself in a difficult situation and at a loss in trading, don't face it alone. Please get in touch with me. I'm always ready to fight side by side with you, avoid risks, and embark on a new journey towards stable profits.
Technical Analysis
Although the weekly inverted hammer pattern indicates selling pressure at higher levels, the rapid rebound from the bottom to reclaim the key $3,300 level signals the persistence of bullish momentum. If the short-term decline fails to effectively break below the strong support at $3,250, the gold price has the potential for a rebound.
Trading Strategy
Next week, it is recommended to adopt a bullish bias and focus on long positions. Consider entering near $3,283, with a stop-loss set below $3,260. The upper resistance levels are sequentially $3,331 (short-term resistance) and $3,370 (target after breakthrough).
Risk Warning
Be vigilant against shocks to gold prices from sudden geopolitical news or changes in Federal Reserve policy expectations, and strictly control position sizing and stop-loss levels.
I hope this strategy will be helpful to you.
When you find yourself in a difficult situation and at a loss in trading, don't face it alone. Please get in touch with me. I'm always ready to fight side by side with you, avoid risks, and embark on a new journey towards stable profits.
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I will share trading signals every day, and last week they were completely accurate. The real-time signals have helped many traders make profits. No matter what your past profits or losses have been, with my help, you will definitely achieve new breakthroughs in your investments.交易結束：目標達成
In the early trading session, gold retreated after reaching $3,330 and rebounded after hitting the bottom near $3,270. In the short term, it is recommended to conduct trading operations within the price range of $3,260 - $3,331, and closely monitor the direction of the price breakout.
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