Gold prices are consolidating on November 7th, awaiting the non-

7 нояб.

Gold has completed its technical adjustment after a period of consolidation on the hourly chart. Short-term moving averages are starting to turn upwards, and the price is gradually rising above them, suggesting potential for further rebound in the short term. The key resistance level to watch is around 4020-30. On the 4-hour chart, short-term moving averages are largely flat and converging, indicating a potential breakout. The non-farm payroll data is unlikely to be released tonight. On the hourly chart, the price is gradually trending upwards along the short-term moving averages; monitor the short-term correction.

Trading Recommendation: Focus on the 4020-30 resistance zone and begin gradually establishing short positions.

8 нояб.

Сделка активна

The overall gold price movement is largely in line with our analysis!