Chen陈1680

$Price Movement: After reaching a maximum of about 5,625.34, gold is now at around 4,973.80 and will most likely continue to drop.

Momentum Indicators: The current price is below the EMA(7) and EMA(25), which indicates bearish momentum in the short term. The current price is facing the EMA(99) (purple line) as potential support.

MACD Crossover: MACD has just produced a negative crossover and volume associated with MACD's histogram crossed into the red, indicating that sellers are currently controlling the direction of price.

Key Levels of Support and Resistance: Support: 4,880 – immediate support; 4,444 – major support. Breakout of resistance: Above 5,020 confirms bearish to bullish trend reversal.Trading Strategy: Current position is a “make or break” scenario. If price cannot hold EMA(99) support, the price will drop further to the 4,800 area. However, if price bounces strongly, there is potential for a relief rally.Risk Management: High volatility in Gold at this time requires that you always utilize Stop-Loss (SL) orders and manage leverage effectively. Follow for more real-time market data and winning signal updates.
#Trading #GoldAnalysis #XAUUSDT #TechnicalAnalysis #Binance

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