Evaluate the strategy and outlook for gold prices today!
Current Trend: The 4-hour chart shows gold in a short-term uptrend. The price is above the EMA 34 and EMA 89, showing that the upward momentum is still strong.
Critical Support Zone: 2,335 USD - 2,333 USD, coincident with the EMAs, acting as a strong support zone.
Key Resistance: $2,387 is the resistance to watch out for. If the price breaks this level, the uptrend could be further strengthened.
Trading strategies:
Buy: When the price adjusts to the support area around 2,335 USD and shows signs of rebounding.
Sell: When the price approaches the resistance level of 2,387 USD and shows signs of strong rejection.
Critical Support Zone: 2,335 USD - 2,333 USD, coincident with the EMAs, acting as a strong support zone.
Key Resistance: $2,387 is the resistance to watch out for. If the price breaks this level, the uptrend could be further strengthened.
Trading strategies:
Buy: When the price adjusts to the support area around 2,335 USD and shows signs of rebounding.
Sell: When the price approaches the resistance level of 2,387 USD and shows signs of strong rejection.
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