6.8 Gold Midday Review: Support at Low Levels Continues Bearish Trend, Follow the Downtrend


Review of the Market:
This morning, gold prices continued to fluctuate weakly at low levels, suppressed by the bearish momentum after the non-farm payroll plunge. Currently, prices are around 4308, with a low of 4300, and the bearish pattern remains unchanged.
Trend Analysis:
Technical: 1-hour KDJ (25.75/27.96/21.33) shows weak momentum at low levels; 30-minute KDJ (25.92/31.45/14.87) shows a slight turn but the moving averages are clearly in a bearish alignment. Short-term resistance is at 4325-4345, support at 4300/4280, overall outlook remains bearish.
Cocoa Recommendations:
Prioritize short positions during the day, consider shorting on dips around 4325 and 4345 in batches, targeting 4300 and 4285; on a pullback near 4285, take light short-term long positions to catch rebounds, exit upon resistance, use small positions with stop-loss, and strictly avoid blind trading.
Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; please trade cautiously.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned