XAUUSD:23/8 Today's Market Analysis and Strategy

23 sie 2024

Gold technical analysis
Daily resistance 2550, support below 2450
Four-hour resistance 2514, support below 2470

Gold operation suggestions: Gold was under pressure around 2515 yesterday, and retested to 2470. It broke the previous day's starting point of 2485. The strong market broke the low and turned into a volatile consolidation market.

The overall price showed a stage head pattern at the 2530 mark. The daily level was suppressed below the 2520 mark for two consecutive trading days, showing a weak oscillation and decline. Today, the upper strong resistance pressure focuses on the 2500 integer mark. The intraday pullback relies on this position to continue to be short and follow the trend to fall. The lower target continues to focus on breaking the new bottom.

BUY:2484near SL:2480
SELL:2500near SL:2505
SELL:2514near SL:2519

Technical analysis only provides trading direction!

23 sie 2024

Zlecenie aktywne

The market is waiting for Powell's speech and U.S. new home sales mom for July in an hour. Those sold at 2500 can be closed first and wait for the news release

23 sie 2024

Zlecenie aktywne

The most active gold futures contract on COMEX was traded 3,162 lots in one minute from 10:00 to 10:01 on August 23, NY time, with a total contract value of US$804 million.

23 sie 2024

Zlecenie aktywne

We canceled our short selling plan. Fed Chairman Powell has sent the strongest signal of interest rate cut so far. It is expected that gold will rise first and then fall today. But we will not participate in short selling.