The current gold market is in a typical bull carnival market, and prices continue to climb to historical highs. After a small gap-up opening at 3087 in the morning, it quickly rose to the 3097 line, then fell back to repair the gap to around 3076 and rose again. This trend clearly shows that the market is still under the control of strong bulls, but it also indicates that risks are accumulating.
Technical analysis
Daily level analysis
The MACD indicator has a second golden cross and runs in large volume, showing strong bullish momentum
The dynamic indicator STO quickly enters the overbought area upward, warning of a callback risk
Key support level: around 3062 and 3057
Moving average system: MA5 (3054) and MA10 (3043) are not considered for the time being due to the lag of the indicator
4-hour level analysis
The price remained in the 3065-3086 range and then broke through
The gap 3084-3087 became an important support area
Secondary support level: 3076-73 and 306 5 front line
MACD golden cross with large volume oscillation, STO overbought upward, indicating oscillation upward
Hourly level analysis
After the big Yin repaired the gap, the big Yang immediately pulled up, showing that the upward momentum is not exhausted
MACD dead cross turned into golden cross, STO indicator rose
Key support area: 3089-3085-3081
Key price prompt
Bull defense line:
Short-term: 3084-3087 (gap support)
Medium-term: 3066-70 (bull-bear boundary)
Long-term: 3050-55 (bull-bear watershed)
Upper resistance:
3107-3109
3111- 3118
3135
Trading strategy suggestions
Long strategy (participate with caution)
Entry point: around 3085-87
Stop loss setting: below 3076
Target: 3095→3105→3118→3135 (take profits in batches)
Core logic: gap support is effective, short-term upward momentum is still there
Short layout (prepare for callback)
Potential short selling area:
3111-3118
Around 3135
Stop loss setting: 2-3 US dollars after breaking through the previous high
Target: 10-20 US dollars callback space
Core logic: technical repair after extreme overbought Demand
Special reminder
Non-agricultural weekly trading features:
The beginning of the week may continue to rise (Monday to Wednesday)
ADP data on Thursday and non-agricultural data on Friday may cause violent fluctuations
It is recommended to reduce positions before key events
Risk control points:
Strictly stop loss to prevent sudden reversals
Avoid chasing long positions at key resistance levels
Positions controlled within 5%
Market warning:
Currently in a typical "fish tail market", the profit and loss ratio has deteriorated
Bull carnival is often followed by a violent correction
Need to remain rational and not blindly chase the rise
Conclusion
Although the gold market remains strong at present, the technical side has shown multiple overbought signals. It is recommended that investors remain calm, cautiously go long at key support levels, and arrange short positions at important resistance levels to prepare for possible sharp corrections. Remember, when the market is the craziest, it is often necessary to keep the clearest mind. Strict risk control and position management are the key to survival in the current market.
Technical analysis
Daily level analysis
The MACD indicator has a second golden cross and runs in large volume, showing strong bullish momentum
The dynamic indicator STO quickly enters the overbought area upward, warning of a callback risk
Key support level: around 3062 and 3057
Moving average system: MA5 (3054) and MA10 (3043) are not considered for the time being due to the lag of the indicator
4-hour level analysis
The price remained in the 3065-3086 range and then broke through
The gap 3084-3087 became an important support area
Secondary support level: 3076-73 and 306 5 front line
MACD golden cross with large volume oscillation, STO overbought upward, indicating oscillation upward
Hourly level analysis
After the big Yin repaired the gap, the big Yang immediately pulled up, showing that the upward momentum is not exhausted
MACD dead cross turned into golden cross, STO indicator rose
Key support area: 3089-3085-3081
Key price prompt
Bull defense line:
Short-term: 3084-3087 (gap support)
Medium-term: 3066-70 (bull-bear boundary)
Long-term: 3050-55 (bull-bear watershed)
Upper resistance:
3107-3109
3111- 3118
3135
Trading strategy suggestions
Long strategy (participate with caution)
Entry point: around 3085-87
Stop loss setting: below 3076
Target: 3095→3105→3118→3135 (take profits in batches)
Core logic: gap support is effective, short-term upward momentum is still there
Short layout (prepare for callback)
Potential short selling area:
3111-3118
Around 3135
Stop loss setting: 2-3 US dollars after breaking through the previous high
Target: 10-20 US dollars callback space
Core logic: technical repair after extreme overbought Demand
Special reminder
Non-agricultural weekly trading features:
The beginning of the week may continue to rise (Monday to Wednesday)
ADP data on Thursday and non-agricultural data on Friday may cause violent fluctuations
It is recommended to reduce positions before key events
Risk control points:
Strictly stop loss to prevent sudden reversals
Avoid chasing long positions at key resistance levels
Positions controlled within 5%
Market warning:
Currently in a typical "fish tail market", the profit and loss ratio has deteriorated
Bull carnival is often followed by a violent correction
Need to remain rational and not blindly chase the rise
Conclusion
Although the gold market remains strong at present, the technical side has shown multiple overbought signals. It is recommended that investors remain calm, cautiously go long at key support levels, and arrange short positions at important resistance levels to prepare for possible sharp corrections. Remember, when the market is the craziest, it is often necessary to keep the clearest mind. Strict risk control and position management are the key to survival in the current market.
Trade active
After a brief adjustment this morning, gold rose again in large volume, in line with bullish expectations. At present, the European session stopped at 3128 highs and fluctuated. In the evening, it continued to fall back and do more. The bullish trend is not expected to top, but today's monthly line closed, and after the volume increased, we must also be careful of a high-exploration fall. Last week, we also went long and took profits all the way, and the intraday harvest was rich. The daily support remains near 3090, but the strength may not have too much retracement, otherwise it will turn into fluctuations. The short-term support focuses on 3105. In the evening, the strength will rely on this position to be bullish, and then gradually look to 3128 and 3140!Operation suggestion: Gold is long near 3105-3100, stop loss at 3090, and look at 3128 and 3140!
Trade closed: target reached
The current price of gold fluctuates in a high range, and the short-term moving average continues to rise, showing a strong market trend. Recently, the price of gold has bottomed out and rebounded, and the technical pattern has been well repaired, indicating that it may usher in a second rise after the high-level shock.Although the gold price briefly adjusted back to 3100 points during the US trading session, the strength was limited. The big positive line quickly broke through, showing that the short-term momentum was insufficient, the long position was still strong, and the probability of setting a new high was greatly increased.
The previous bottom of 3100 long orders also reached 3127 with the highest, and this wave also gained 25 points. The current trend fell back and tested the short-term support of 3112 again. It is expected that the US market will maintain a high consolidation in the subsequent stage.
Signal: t.me/+5-NW2vEVmq1iMTM0
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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.
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.