9.9 Gold short-term operation strategy
In the early Asian session on Monday (September 9), spot gold fluctuated in a narrow range and is currently trading around 2496. Gold prices rose and fell last Friday, as the number of new non-agricultural jobs fell short of expectations. Gold prices once hit a three-week high of around $2529.06 per ounce, approaching the historical high, but soon gave up the gains because the unemployment rate fell and the Fed's "number three" did not send a signal of a 50 basis point rate cut to the market, causing the market to doubt the extent of the Fed's rate cut later this month. Gold's performance last Friday sounded the alarm for the market, showing that the trend in the next few weeks will be full of variables. In this context, how to deal with potential volatility will become a key issue for gold traders.
Gold closed two consecutive cross-yin lines on the weekly line. On Friday, there was a wave of highs and falls, which highlighted the signal of strong short positions. Although the current gold price is still running above the short-term moving average, and the short-term moving average also forms a short-term support in the 2490 area, the upward momentum is obviously beginning to show weakness. On the whole, the weekly line, the short position still has the advantage in the short term, and it is likely to continue to extend the lows. This week, it is expected to reach the 2470 area again.
This week, we need to focus on the previous two double-needle bottoming positions around 2470. In terms of the weekly and daily closings, the downward trend is obvious, and it is expected to continue to bottom out. If the position cannot be supported, then the gold short position profit will definitely fall sharply. In terms of intraday operations, long orders are not considered for the time being. Short orders can be participated in the rebound near 2505
Detailed intraday operation strategy:
Short gold rebounds at 2505, defend 2515, target 2495-2480
Gold closed two consecutive cross-yin lines on the weekly line. On Friday, there was a wave of highs and falls, which highlighted the signal of strong short positions. Although the current gold price is still running above the short-term moving average, and the short-term moving average also forms a short-term support in the 2490 area, the upward momentum is obviously beginning to show weakness. On the whole, the weekly line, the short position still has the advantage in the short term, and it is likely to continue to extend the lows. This week, it is expected to reach the 2470 area again.
This week, we need to focus on the previous two double-needle bottoming positions around 2470. In terms of the weekly and daily closings, the downward trend is obvious, and it is expected to continue to bottom out. If the position cannot be supported, then the gold short position profit will definitely fall sharply. In terms of intraday operations, long orders are not considered for the time being. Short orders can be participated in the rebound near 2505
Detailed intraday operation strategy:
Short gold rebounds at 2505, defend 2515, target 2495-2480
Note
Note
As shown in the figure, gold is oscillating upward at a high level with great resistance. The three Bollinger lines are all at the upper end. Traders should pay attention to the risk of decline.
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