XAUUSD:11/2 Today's Market Analysis and Strategy
30-minute resistance 2935, support 2915
1-hour resistance 2950, support 2900
Currently, the rising channel is complete, RSI is not overbought (about 65), and there is still room for upward movement.
Focus on the support strength of the 2910-2915 range. If it holds, it will remain bullish.
Note: If it breaks through 2950 during the day, it may accelerate towards 3000; if it pulls back to around 2900, it will attract long-term buying funds to enter the market.
Personal opinion: Gold is likely to continue to fluctuate upward, and the Asian and European sessions may test 2950-2960$, mainly buying on dips
1-hour resistance 2950, support 2900
Currently, the rising channel is complete, RSI is not overbought (about 65), and there is still room for upward movement.
Focus on the support strength of the 2910-2915 range. If it holds, it will remain bullish.
Note: If it breaks through 2950 during the day, it may accelerate towards 3000; if it pulls back to around 2900, it will attract long-term buying funds to enter the market.
Personal opinion: Gold is likely to continue to fluctuate upward, and the Asian and European sessions may test 2950-2960$, mainly buying on dips
Trade active
Gold technical analysis
Daily resistance 2950, support below 2852
Four-hour resistance 2950, support below 2896
Gold operation suggestions: Yesterday, the technical side of gold continued to rise after the opening, and broke through the 2900 integer mark in the European and American sessions, further continuing the extremely strong unilateral rise of the bulls. After the opening of the Asian session today, it further accelerated to break through the 2920 mark and maintained the extremely strong unilateral rise of the bulls.
From the current 4-hour gold trend, gold is currently fluctuating above the 2905 line, but the bulls have been in a strong position. Below, we pay attention to the 2900 and 2896 line supports, and continue to look for new highs above. After all, the bulls are still the dominant trend. In terms of operation, we continue to focus on buying opportunities when we step back.
BUY:2890near
BUY:2900near
The strategy only provides trading directions
Trade closed manually
After the daily cycle continued to rise, the pressure pattern began to appear. Yesterday, gold fell from a high level, and the price approached the short-term moving average. Although there was a change after the continuous rise, in fact, the bullish trend of gold has not changed. It cannot be concluded that gold has turned because of a wave of decline or a day's decline. It cannot be said that it has peaked at present. Perhaps it is just a large-scale wash. According to the fundamentals, the rise has not been completed, and it is far more than this range. However, the market needs to correct this rise in a short period of time, so the current buying and long positions also need to be careful to prevent a large downward retracement.
Today, we will focus on the NY market CPI data. The lower support is first near the low point of 2880 yesterday. Today, the Asian session fell to 2883 and rebounded. There are signs of double bottoms in the 2880 area in the short term. Then, the 2880 area will be held in the white session during the day and a short-term buy will be made. If it breaks 2880, it will continue to retreat. At that time, we will consider following the trend and selling in the short term, and wait for the retracement above 2852 to choose a low position to buy. Due to the large fluctuations now, pay attention to risk control, especially in the US market.
Note
15-minute resistance 2910, support 2925
30-minute resistance 2908, support 2925
1-hour resistance 2908, support 2930
Today's gold price is expected to fluctuate around the 2900-2940 range, and the short-term direction depends on the competition in the 2920-2925 area. It is recommended to mainly sell high and buy low within the range, strictly stop loss and pay attention to breakthrough signals. If it stands firm at 2940, the medium-term target still points to the psychological level of 3000; if it falls below 2880, it may start a deep correction to 2850
If it stands firm at 2925 US dollars, it may test the 2930-2940 US dollar range. It is recommended to buy above 2910 or add positions on dips
If it is blocked and falls below 2910, it will continue to test the 2900 support and can be sold in the short term
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Signal and daily analysis channel
💥t.me/Actuary00group
✉️Signal and daily analysis channel
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.