10.24 US market technical analysis!!!

24 ott

Gold hourly level: It stabilized and rebounded at 4105 overnight, and fell again in Asian session today, only rebounded from a double bottom at 4105 to 4144, and the price re-stood on the 66-day key moving average, because the Japanese and US sessions suppressed this moving average and fluctuated downward all the way; then after the positive line closed and broke through it, it was thought that if it held 4105, it could continue an upward trend. As a result, it consolidated for several hours and broke below 4100 in the afternoon, triggering a wave of decline, and hit the trend line of 4044 at the lowest, and got a certain rebound effect. After breaking through 4100, we will see the bullish trend, and the key support lies at 4150-4160.

24 ott

Trade attivo

Judging from the 4-hour market trend, the upper side is currently focused on the short-term resistance level of 4147-53. Gold is under pressure and is struggling to break through. Trading strategies should prioritize shorting on rebounds and pressure. In the intermediate range, be cautious in following orders.

Gold Trading Strategies:

1. Buy gold if it retraces to the 4100-4108 level, with a stop-loss at 4097 and a target of 4153-60. Hold if it breaks through.

2. Short gold if it rebounds but does not break through the 4147-53 level, with a stop-loss at 4162 and a target of 4095-41050. Hold if it breaks through.