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🔥🔥🔥 Gold: Are the bears retreating?

Gold price rebounded nearly $100 today! A return to $4,500 levels and possibly even stabilization above $4,530 is possible.

What do big investors do?

Those who thought the $4,500 to $3,453 range was the limit and shorted near $4,490 in hopes of an easy profit may now be looking at their screens in confusion.

During the U.S. trading session on Tuesday, gold prices briefly fell to a low of $4,470 amid pessimism, with many people shouting “We will see gold prices reaching $4,360!” Some even said “$4,000 is not a dream!”.

This is a psychological trap set by big investors.

Last night, big news broke: US-Iran negotiations have made significant progress! According to reports, the text of the agreement will be announced within a few hours! Gold suddenly went from being an unpopular commodity to being a highly sought after commodity!

Easing geopolitical tensions are helping to set the stage for expectations of interest rate cuts, while underlying long-term demand for gold remains stable. The short-term profit-taking for shorts is coming to an end!

Gold prices are currently hovering around $4,534, and a battle is brewing between bulls and bears after a brief bounce from oversold territory.

Today’s highest price: about $4,550

Major short-term resistance level: $4580-4600

Yesterday’s lowest support level: $4470-4500

Main medium and long-term resistance levels: $4625-4650

Technical analysis: The short-term trend is a pullback and rebound, but the $4550-4600 area is the real test. If the price is unable to hold this area on high volume, a further pullback may be possible in the medium term to confirm a bottom.

Trading strategy:

Purchase: 4515-4520

Stop loss: 4500

Take Profit 1: 4580-4600

Profit 2: 4625-4650

Short selling strategy (wait for price to rebound to resistance level)

Sales: 4580-4600

Stop loss: 4625

Take profit: 4530-4500

👈 If you hold a long position and have made a profit: 4534 is neither the highest nor the lowest point. If you hold a large position, it is recommended to take profits in batches within the 4580-4600 range, maintain the initial position, and increase the position after the breakthrough is confirmed.

👈 If you miss the rebound: After several rounds of fluctuations near 4500 points, optimism has returned, but chasing higher than 4550 points is extremely dangerous. It is best to wait until the price returns to the $4515-4520 range before entering the market.

👈 If you are short selling: The risk-reward ratio of a short position decreases significantly. If gold prices continue to move towards the $4580-4600 range, it is recommended that you reduce your positions and set stop loss orders instead of stubbornly holding on and expecting the price to collapse again.

👈 The most important points today:

Geopolitical dynamics: Will the text of the US-Iran agreement be officially announced? –If announced, gold prices could rise again.

U.S. Dollar Index: If the U.S. dollar index continues to retreat from a six-week high, the rebound in gold prices will find strong support.

Fed official speaks: Any dovish comments will support gold prices.

Don’t be a source of easy profits for big investors; be a conscious investor. The past 48 hours have taught all traders a profound lesson – the market’s darkest moments are often just before dawn. The price of gold rose from $4,470 to $4,550, a daily increase of $100, causing many traders to suffer huge losses and prompting many short sellers to open positions late at night to activate stop-loss orders.

Follow me and you will become one of the most balanced players in this market!

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