Although the daily line did not rise on Wednesday, there is a very obvious feature of the daily line cycle, that is, the middle rail of Bollinger has not broken, and multiple attempts have not changed this technical point. This is the support point for the short-term retracement and the defensive point for the long-term rise. As long as this point is not broken, gold will be firmly bullish. Today, gold will continue to look at the closing of the daily line. If it closes positively, the space above the daily line will open up, and the high point of 3400 can be seen directly.
From a technical point of view, the daily line rose sharply on Wednesday and stood firmly above the middle rail of Bollinger. The moving average system diverged upward. In the 4-hour chart, the golden cross of the random indicator MA5-MA10 continued, which was good for intraday fluctuations and rises; MACD continued to hit the red kinetic energy column. In terms of form, it continued to rise slowly, which was a bullish signal; then it was strong and looked to rise to the high point of the upper rail of Bollinger near 3400. After this round of rise and pull-up, the Bollinger opened in the 4-hour chart. Today may be a unilateral trend, and the intraday support is near 3342. After adjusting to 3342 during the day, you can go long and look at the rising space today.
On the whole, today's short-term operation strategy for gold is to buy on pullbacks and sell on rebounds. Gold strategy:
Buy range: 3350-3345, SL: 3335, TP: 3370-3380
Sell range: 3385-3390, SL: 3400, TP: 3370-3360
Key points:
First support: 3350, second support: 3345, third support: 3335
First resistance: 3385, second resistance: 3390, third resistance: 3400
From a technical point of view, the daily line rose sharply on Wednesday and stood firmly above the middle rail of Bollinger. The moving average system diverged upward. In the 4-hour chart, the golden cross of the random indicator MA5-MA10 continued, which was good for intraday fluctuations and rises; MACD continued to hit the red kinetic energy column. In terms of form, it continued to rise slowly, which was a bullish signal; then it was strong and looked to rise to the high point of the upper rail of Bollinger near 3400. After this round of rise and pull-up, the Bollinger opened in the 4-hour chart. Today may be a unilateral trend, and the intraday support is near 3342. After adjusting to 3342 during the day, you can go long and look at the rising space today.
On the whole, today's short-term operation strategy for gold is to buy on pullbacks and sell on rebounds. Gold strategy:
Buy range: 3350-3345, SL: 3335, TP: 3370-3380
Sell range: 3385-3390, SL: 3400, TP: 3370-3360
Key points:
First support: 3350, second support: 3345, third support: 3335
First resistance: 3385, second resistance: 3390, third resistance: 3400
Note
Note
Spot gold surged after the CPI was released as investors reacted to optimistic inflation data. Driven by inflation data that was lower than expected across the board, the interest rate market also responded, slightly increasing bets that the Fed would cut interest rates at the September meeting. However, it is still expected that the Fed will remain on hold at the June and July meetings. However, the rise in gold was limited to a certain extent because Trump said that the China-US negotiations had made substantial progress and an agreement was about to be reached. Trump's remarks on rate cuts restored the confidence of gold bulls, but with the strong pressure of $3,380 above, the market fell again, and the switching of gold longs and shorts accelerated, verifying the daily level of shocks. From a technical point of view, although the daily line did not rise on Wednesday, there is a very obvious feature of the daily cycle, that is, the Bollinger middle track has not broken, and multiple attempts have not changed this technical point. This is the support point for the short-term retracement and the defensive point for the long-term rise. If it breaks above $3,375 in the evening, it is expected to rise to $3,410. The key support level below in the short term is around 3345. If it breaks down, it will look down to 3333-3302. The important pressure level is around 3380. If it breaks through, it will look up to around 3403-3438! Comprehensive analysis: I personally recommend buying on pullbacks and shorting on rebounds! GOLD watershed: $3345
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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.