Gold closed yesterday with a daily increase of more than $100. This kind of single-day increase is extremely rare in more than 10 years. With a rise of $200 in two trading days, the market has been extremely crazy. On Thursday, gold hit a new high in the US market. Market sentiment completely followed the tariff war. Technical analysis has become invalid. We can only control risks and reduce positions to operate.
The gold price stood on the middle track and the short-term moving average 5MA, that is, 3030-3040, and the closing price was just above the MA10 daily line. In today's Asian session, gold continued to rise strongly relying on the MA10 daily line, and the current highest has reached 3220. With such a strong impact, the rapid decline of the daily line in three trading days has turned into a bottoming out and rebound. It is still a bull correction to continue to break highs, but because of the impact of the tariff war, the amplitude and time have accelerated. According to the previous large increase, if the bulls continue to be emotional, the next position will be 3300.
Gold has risen strongly, continuously setting new historical highs, and the bulls are strong! At the 4-hour level, the support level has moved up. The 1-hour moving average of gold has formed a golden cross upward bullish arrangement, indicating that gold bulls still have the power to rise further. At present, the price of gold has set a new record high, and it is not advisable to rush to chase the rise at this time. The short-term operation strategy can wait for the price to fall back, and after stabilizing below, combine the support level to go long.
Today, the highest price of gold in the Asian session has risen to 3220, and the demand for risk aversion has increased. Most people have a high degree of attention and willingness to buy gold. Judging from the trend of the market, gold has stabilized at the previous high of 3167, and the bullish trend has been continued. The daily increase of gold in the past few days has exceeded 100 US dollars. I believe that the increase in the price of gold today will not be too small, and today's gold is expected to further move towards the 3300 mark. Wait for a correction during the session and go long!
Key points:
First support: 3200, second support: 3185, third support: 3170
First resistance: 3223, second resistance: 3236, third resistance: 3250
Operation ideas:
Buy: 3177-3180, SL: 3168, TP: 3200-3210;
Sell: 3233-3236, SL: 3245, TP: 3210-3200;
The gold price stood on the middle track and the short-term moving average 5MA, that is, 3030-3040, and the closing price was just above the MA10 daily line. In today's Asian session, gold continued to rise strongly relying on the MA10 daily line, and the current highest has reached 3220. With such a strong impact, the rapid decline of the daily line in three trading days has turned into a bottoming out and rebound. It is still a bull correction to continue to break highs, but because of the impact of the tariff war, the amplitude and time have accelerated. According to the previous large increase, if the bulls continue to be emotional, the next position will be 3300.
Gold has risen strongly, continuously setting new historical highs, and the bulls are strong! At the 4-hour level, the support level has moved up. The 1-hour moving average of gold has formed a golden cross upward bullish arrangement, indicating that gold bulls still have the power to rise further. At present, the price of gold has set a new record high, and it is not advisable to rush to chase the rise at this time. The short-term operation strategy can wait for the price to fall back, and after stabilizing below, combine the support level to go long.
Today, the highest price of gold in the Asian session has risen to 3220, and the demand for risk aversion has increased. Most people have a high degree of attention and willingness to buy gold. Judging from the trend of the market, gold has stabilized at the previous high of 3167, and the bullish trend has been continued. The daily increase of gold in the past few days has exceeded 100 US dollars. I believe that the increase in the price of gold today will not be too small, and today's gold is expected to further move towards the 3300 mark. Wait for a correction during the session and go long!
Key points:
First support: 3200, second support: 3185, third support: 3170
First resistance: 3223, second resistance: 3236, third resistance: 3250
Operation ideas:
Buy: 3177-3180, SL: 3168, TP: 3200-3210;
Sell: 3233-3236, SL: 3245, TP: 3210-3200;
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Perfect signal SELL3233~3236 HIT TP3210 👏🏻Perfect signal. Are you following?
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🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
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.