Potential short swing trade for gold
Gold prices have held up well the past couple of days despite a stronger USD and yields. Although its established bearish trend looked overstretched around recent lows, after bears failed to drive prices materially beneath the June low.
We see the potential for the retracement continue higher over the near-term, but we'll be looking out for evidence of a swing high around or below the 19117 - 1920 area (high volume node and round number).
And now spot gold prices have already tested 1900, another leg lower does not seem unreasonable. Besides, the front-month gold contract is yet to break that level, and it provided support in late June. And if futures are to head for 1900, it suggests support for spot gold around 1970.
We see the potential for the retracement continue higher over the near-term, but we'll be looking out for evidence of a swing high around or below the 19117 - 1920 area (high volume node and round number).
And now spot gold prices have already tested 1900, another leg lower does not seem unreasonable. Besides, the front-month gold contract is yet to break that level, and it provided support in late June. And if futures are to head for 1900, it suggests support for spot gold around 1970.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。