9.24 Technical Analysis of Gold Short-term Operations
The bullish market sentiment after the Fed's rate cut last week and geopolitical tensions pushed up gold prices. Gold hit a new record high yesterday, reaching 2634, and then began to fall slightly, closing the daily line with a small positive. However, the US dollar index stabilized and rebounded, and Ukrainian President Zelensky said that the Russian-Ukrainian war was "close to the end". Everyone still needs to beware of the risk of a short-term correction in gold prices.
Gold hit a new high again, and the high point was constantly refreshed, from 2500 to 2634. In the short term, it is still dominated by a bullish trend. The weekly level broke through strongly last week. The current market is running on the upper track of the long-term channel. At present, it is necessary to focus on the support near 2600. The gains and losses of this position are related to the trend guidance of gold bulls and bears. If this position is broken, gold is likely to have a large retracement.
It is still expected to fluctuate during the day. In the short term, if gold wants to completely get out of the strong pattern, it still needs time to exchange space. I have repeatedly emphasized that the current point chasing long profits and risks are not proportional. The operation is around the 2600-2635 range during the day.
Detailed intraday operation strategy:
Short gold at current price 2633, defense 2638, target 2620-2600
Long gold at 2600, defense 2594, target 2610-262
Gold hit a new high again, and the high point was constantly refreshed, from 2500 to 2634. In the short term, it is still dominated by a bullish trend. The weekly level broke through strongly last week. The current market is running on the upper track of the long-term channel. At present, it is necessary to focus on the support near 2600. The gains and losses of this position are related to the trend guidance of gold bulls and bears. If this position is broken, gold is likely to have a large retracement.
It is still expected to fluctuate during the day. In the short term, if gold wants to completely get out of the strong pattern, it still needs time to exchange space. I have repeatedly emphasized that the current point chasing long profits and risks are not proportional. The operation is around the 2600-2635 range during the day.
Detailed intraday operation strategy:
Short gold at current price 2633, defense 2638, target 2620-2600
Long gold at 2600, defense 2594, target 2610-262
Note
A small boat drifts in the sea. If you don't set sail, you will drift in the sea forever. Only the current price can truly protect you. If you want to turn losses into profits or expand your assets, follow me. The professional analyst team will always protect your assets.
David will regularly update the latest gold trends and trading signals every day. Brothers and sisters, please follow me to get timely information
Note
The peak has passed and the trend is as expectedNote
32 short positions, profit 7 points
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.