Gold price fluctuation range: 4180-4050 US dollars

Conservative strategy: buy low and sell high within this range

As shown in the picture:

Gold prices are showing signs of weakness. The recent upward trend has absorbed relevant news, and gold prices may continue to fluctuate within the range of $4180-4050 this week.

So, our strategy is very clear:

1. For short positions, please set a stop loss order near $4185.

If you feel that placing a stop loss order now is too big, you can place the order in stages and control its size. Or you could wait for the price to rise and hit resistance before selling short at a better price.

2. Bulls, please pay attention to the following support levels: US$4110-4120, US$4080-4100, and US$4050-4060. Taking long-term buy positions based on the support levels of these three ranges is a very sound intraday trading strategy. Final stop loss price: $4045.

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