Gold falls back, where are the opportunities for long orders

12 בפבר׳

After gold rose strongly to 2942, it fell back all the way. So far, the lowest point below has reached 2880. Not only has the upward space within the day been recovered, but the previous strong pressure level of 2880 has been tested twice. As we all know, 2880 is the current top-bottom conversion. Once this area is lost, it means that this round of rise has peaked, and it will also start a phased unilateral correction trend;

Current price and resistance level: The current gold price is running around $2,891.94, close to the short-term technical resistance level of $2,900.60. If gold breaks through this level, there may be more room for growth, and the target will be higher at $2,911.08. This area is the key resistance area of ​​the previous price reversal, and it may stimulate further buying power after breaking through.

Support level: If the price fails to break through the resistance area and starts to pull back, the support level is particularly important. The support areas below are at $2,884.12 and $2,857.62, which are the key levels where gold prices may rebound. If the price moves down to these areas, the market may usher in certain support and rebound opportunities.

From a technical perspective, the choice of gold prices between breaking through or retracing will determine the future trend. If gold breaks through the resistance level of $2,900 and stays above it, it may test the target price of $2,911.08 in the short term. However, if the price fails to break through and pulls back, investors can pay attention to the support areas of $2,884.12 and $2,857.62, which may bring buying opportunities if the price moves down to these levels.

Overall, the short-term trend of gold may continue to rise, but whether the price can break through the current resistance level will be the key. If it breaks through, gold is expected to rise further. If it pulls back, the support level will become the basis for the price rebound.

12 בפבר׳

עסקה פעילה

Although recent data continues to be positive, yesterday's high-priced shipments showed that the main force gave a direction for today's CPI data. The high-priced shipments are intended to avoid today's negative news. Therefore, the market outlook basically confirms that the top has been formed, and it may enter a downward trend channel in the short term!

12 בפבר׳

עסקה סגורה: היעד הושג

Gold bottomed out and rebounded, and has rebounded nearly 30 points in just a few dozen minutes. The current price is around 2895. Place short orders at 2893-2897, hold 2901, and the target is around 2872.