Currently, the market has rebounded to near the midline and is facing resistance again. On the 15-minute chart, a downward channel is forming. The current price is in the lower half of the downward channel and moving upward. Looking at the hourly MACD indicator, the market is also in a bottom divergence state. The resistance above is around 5330. For short-term trading, it is recommended to focus on buying on dips. If the price breaks above the upper boundary of the downward channel, a new upward rally could begin! Recommended to buy around the 5250-5230 range, with a stop loss at 5225. The target is set at 5330-5350, and a breakout above 5400 could signal further upside.
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Jinda Chuan Gold Evening Market Analysis
Currently, the market has rebounded to near the midline and is facing resistance again. On the 15-minute chart, a downward channel is forming. The current price is in the lower half of the downward channel and moving upward. Looking at the hourly MACD indicator, the market is also in a bottom divergence state. The resistance above is around 5330. For short-term trading, it is recommended to focus on buying on dips. If the price breaks above the upper boundary of the downward channel, a new upward rally could begin!
Recommended to buy around the 5250-5230 range, with a stop loss at 5225. The target is set at 5330-5350, and a breakout above 5400 could signal further upside.