COMEX Gold Trading Technical Analysis on November 25th
On Monday (November 25th), during the closing session of the Asian session, COMEX gold traded around $2669, and the fundamental safe haven sentiment of the geopolitical situation was an important factor supporting the rebound of gold prices in this round.
However, the simultaneous strengthening of the US dollar index, coupled with the expected slowdown of the Federal Reserve's interest rate cut in December, has limited the rise of gold prices. On this trading day, gold prices fell sharply due to the cooling of geopolitical sentiment.
And this week there are still minutes of the Federal Reserve meeting and the US PCE price index has not yet landed, with short-term fluctuations as the main trend. It is not advisable to blindly chase after the rise during the day, and be cautious of a second rebound. The focus should be on box treatment.
From a technical perspective, if the daily level of gold falls and swallows up, and the closing price cannot remain stable at $2700, it is not ruled out that the gold price may continue to adjust downwards.
The short-term long short watershed is $2650. If it falls below, it will accelerate its downward trend, with a pullback pressure around $2700. Within the range, it will sell high and buy low.
COMEX Gold Daily Chart
At the 4-hour level, the KDJ indicator is accelerating its decline and still has some distance to go before reaching the support of the 4-hour moving average. In the short term, it is expected to maintain a volatile adjustment, with intraday pullback pressure around $2695, and the lower moving average supporting around $2630, mainly waiting for confirmation of support.
COMEX Gold 4-hour chart
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