From the daily chart, the golden cross has been established. The three tracks of the Bollinger Bands are still flat and suppressed by the trend line pulled down by the daily line. The resistance at the beginning of the week is around 3360-3365. Once the previous high is broken, the possibility of gold hitting the upper Bollinger Band of 3400 cannot be ruled out. In the short term, the lower trend line support on Monday played a role again in the 3320 area, but it may not be able to hold up again today. Since the market is no longer testing the Bollinger Bands, combined with the four-hour top divergence correction, if there is an adjustment, once the previous low is broken, the market will test the integer of 3300.
After the previous rise, the four-hour cycle is not so strong now, but it is oscillating. The Bollinger band is closed, and the trend strength needs to be stimulated by the market before a second rise can occur. Therefore, it is not recommended to look at absolute unilateral strength at the beginning of the week. It is better to have a callback to go long. Go short at highs first. If the market can open the suppression point near the Bollinger upper rail 3370 in the future, or start a rebound of at least 15-20 points, the bottom will see if it continues to be under pressure here at the beginning of this week. Gold hit a high of 3350 in the Asian session and fell under pressure. Gold did not break through yesterday's high point, so the high point of gold rebound is still decreasing in turn, indicating that the strength of gold bulls is not strong, so gold will continue to sell at highs, and gold will continue to fluctuate in a large range. It is still mainly sold at highs. Now the market still changes greatly according to the impact of news. If there is a risk aversion on the gold news, then it can go ahead with the risk aversion.
Overall, today's short-term operation strategy for gold is to sell on rebounds and buy on pullbacks. The short-term focus on the upper side is 3345-3450 resistance, and the short-term focus on the lower side is 3300-3290 support.
Gold strategy:
Buying range: 3295-3290, SL: 3285, TP: 3315-3325
Selling range: 3345-3350, SL: 3355, TP: 3330-3320
Key points:
First support: 3295, second support: 3290, third support: 3280
First resistance: 3345, second resistance: 3350, third resistance: 3360
Share my views for free every day
After the previous rise, the four-hour cycle is not so strong now, but it is oscillating. The Bollinger band is closed, and the trend strength needs to be stimulated by the market before a second rise can occur. Therefore, it is not recommended to look at absolute unilateral strength at the beginning of the week. It is better to have a callback to go long. Go short at highs first. If the market can open the suppression point near the Bollinger upper rail 3370 in the future, or start a rebound of at least 15-20 points, the bottom will see if it continues to be under pressure here at the beginning of this week. Gold hit a high of 3350 in the Asian session and fell under pressure. Gold did not break through yesterday's high point, so the high point of gold rebound is still decreasing in turn, indicating that the strength of gold bulls is not strong, so gold will continue to sell at highs, and gold will continue to fluctuate in a large range. It is still mainly sold at highs. Now the market still changes greatly according to the impact of news. If there is a risk aversion on the gold news, then it can go ahead with the risk aversion.
Overall, today's short-term operation strategy for gold is to sell on rebounds and buy on pullbacks. The short-term focus on the upper side is 3345-3450 resistance, and the short-term focus on the lower side is 3300-3290 support.
Gold strategy:
Buying range: 3295-3290, SL: 3285, TP: 3315-3325
Selling range: 3345-3350, SL: 3355, TP: 3330-3320
Key points:
First support: 3295, second support: 3290, third support: 3280
First resistance: 3345, second resistance: 3350, third resistance: 3360
Share my views for free every day
Note
If you followed my strategy and bought at 3295~3290, you would have made a profit of more than 150 points. Pay attention to protecting your profits. You are welcome to check out my work. Note
News: Spot gold fell sharply to the $3,300 mark during the European session on Tuesday (May 27). Gold prices attracted some sellers for the second consecutive day on Tuesday as optimism about U.S. President Donald Trump's decision to postpone tariffs on the European Union supported demand for safe-haven assets. Uncertainty about Trump's trade policy has limited optimism. On this trading day, investors will focus on U.S. durable goods orders data, which is expected to trigger a big market trend.Technical: Gold prices generally fell on Monday, with the highest price rising to 3356.63 on the day, the lowest falling to 3323.89, and closing at 3342.09. In the early trading, 3343 bulls pulled up to the highest level of 3350 and began to weaken, and then formed a shoulder top structure. The price broke the bottom, and the U.S. market changed its mindset to short! Gold also has the prototype of a head and shoulders top pattern in 1 hour. If the gold rebound continues to fail to break through the new high, and the high point is still under pressure, then the short-term top structure of gold is expected to be completed. The short-term important pressure position is around 3323; if it breaks, it will go up to around 3333-3347; the key support position below is the support band of 3290; if it breaks, it will go down to 3280-3260! Comprehensive analysis: It is expected to run in the range of 3260-3340 in the evening. I personally recommend selling high and buying low! GOLD watershed: $3323!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.