On August 4th, spot gold opened near the 4054 level, with the MACD indicator showing upward momentum energy during intraday trading. However, gold prices are experiencing minor fluctuations around the 4054-4049 USD range, and the bulls face significant pressure currently.
The recommended strategy for the early Asian session is to primarily observe and wait from the sidelines. Short-term resistance is suggested to be referenced near the 4065 level, while support is suggested to be referenced near the 4030 level.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments