On Thursday, the US dollar index broke down sharply, successfully stimulating the market's risk-averse funds to return to the gold market again, and the gold price rose again. Let's briefly sort it out!
First: The tariff issue of the trade war caused the global market to plummet, and gold fell accordingly. The main reason was that it was necessary to sell gold, recover funds, and fill the capital margin in the stock market, foreign exchange market, and bond market; therefore, gold also plummeted downward in the past few days;
Second: The U.S. dollar index plummeted and broke through, driving market funds back into the gold market, and the gold price hit a record high again;
In yesterday's analysis of spot, you can look back at yesterday's analysis of the daily K indicator. There are two situations, restart Golden cross means breaking the top and reaching a new high. You can look back at yesterday's analysis. This is also a common indicator trend.
Spot gold opened yesterday from 3081 and quickly fell to 3071 before rebounding to around 3100. After that, the price fell back to 3078-80 and rose to around 3132. The price fell back to 3103 from around 3132 and then rebounded to around 3136 and bottomed out around 3113-16 and rose to 3175. The price fell from 3175 to around 3152-54 and then rose again to around 3176 and closed. The opening price fluctuated and rose above 3200. From yesterday's trend: 3180 and 3100 are the bottom supports, but the area around 3100 has fallen back and repaired yesterday, so 3132-36 and 3116 are the current support points. Yesterday, it also directly rose and broke through 3134-36 and then rose without stepping back. At the same time, the price rose to 3174-76 and then retreated to 3152-54, so the current support point is around 3176. The opening price directly rose from this position. Currently, 3190 is the nearest support. Comprehensive important support: ①3176 ②3134 ?③3100 ? The small support distribution in the middle is 3190-3167-3154-3115
Spot gold market analysis:
Ⅰ: Spot gold daily MACD golden cross is initially established, and the dynamic indicator STO quickly repairs upward, which represents the bullish trend of prices. At present, there is no resistance point to judge because it is a historical high, so we can only try it based on small cycle indicators. The current support point of the daily line is located near the MA5 and MA10 moving averages, 3096-3088, and it is not necessary to consider it far away from the candlestick chart.
Ⅱ: Spot gold 4-hour current MACD high golden cross oscillates with large volume, and the dynamic indicator STO is overbought, which represents high-level price fluctuations. Because the indicators are at relatively high levels, they may face short-term peak signals at any time. Currently, we focus on the support line of 3176 near the MA5 moving average.
Ⅲ: Spot gold hourly MACD golden cross is currently oscillating with large volume, and the dynamic indicator STO is running overbought, which means that the hourly line is still oscillating and strong. The current focus is on the 3245 line. If it breaks through 3245 this hour, it will continue to look for highs. Otherwise, a small cycle peaking signal will be formed at this position. The current support below the hourly line is located at the MA5 and MA10 moving averages, and the focus is on the MA10 support 3185 line. Comprehensive thinking: The current price is oscillating at a high level, and the short-term focus is on the 3245 line. If it breaks through, the price will continue to move upward. The current focus below is the support near 3190. If it falls below, the price may move to around 3150-3135.
Strategy: [1] Currently, the 3440-50 area is temporarily set to see pressure adjustment
Go long if the key support is stabilized below, and pay attention to 3187-3170 -3153-you can go long
First: The tariff issue of the trade war caused the global market to plummet, and gold fell accordingly. The main reason was that it was necessary to sell gold, recover funds, and fill the capital margin in the stock market, foreign exchange market, and bond market; therefore, gold also plummeted downward in the past few days;
Second: The U.S. dollar index plummeted and broke through, driving market funds back into the gold market, and the gold price hit a record high again;
In yesterday's analysis of spot, you can look back at yesterday's analysis of the daily K indicator. There are two situations, restart Golden cross means breaking the top and reaching a new high. You can look back at yesterday's analysis. This is also a common indicator trend.
Spot gold opened yesterday from 3081 and quickly fell to 3071 before rebounding to around 3100. After that, the price fell back to 3078-80 and rose to around 3132. The price fell back to 3103 from around 3132 and then rebounded to around 3136 and bottomed out around 3113-16 and rose to 3175. The price fell from 3175 to around 3152-54 and then rose again to around 3176 and closed. The opening price fluctuated and rose above 3200. From yesterday's trend: 3180 and 3100 are the bottom supports, but the area around 3100 has fallen back and repaired yesterday, so 3132-36 and 3116 are the current support points. Yesterday, it also directly rose and broke through 3134-36 and then rose without stepping back. At the same time, the price rose to 3174-76 and then retreated to 3152-54, so the current support point is around 3176. The opening price directly rose from this position. Currently, 3190 is the nearest support. Comprehensive important support: ①3176 ②3134 ?③3100 ? The small support distribution in the middle is 3190-3167-3154-3115
Spot gold market analysis:
Ⅰ: Spot gold daily MACD golden cross is initially established, and the dynamic indicator STO quickly repairs upward, which represents the bullish trend of prices. At present, there is no resistance point to judge because it is a historical high, so we can only try it based on small cycle indicators. The current support point of the daily line is located near the MA5 and MA10 moving averages, 3096-3088, and it is not necessary to consider it far away from the candlestick chart.
Ⅱ: Spot gold 4-hour current MACD high golden cross oscillates with large volume, and the dynamic indicator STO is overbought, which represents high-level price fluctuations. Because the indicators are at relatively high levels, they may face short-term peak signals at any time. Currently, we focus on the support line of 3176 near the MA5 moving average.
Ⅲ: Spot gold hourly MACD golden cross is currently oscillating with large volume, and the dynamic indicator STO is running overbought, which means that the hourly line is still oscillating and strong. The current focus is on the 3245 line. If it breaks through 3245 this hour, it will continue to look for highs. Otherwise, a small cycle peaking signal will be formed at this position. The current support below the hourly line is located at the MA5 and MA10 moving averages, and the focus is on the MA10 support 3185 line. Comprehensive thinking: The current price is oscillating at a high level, and the short-term focus is on the 3245 line. If it breaks through, the price will continue to move upward. The current focus below is the support near 3190. If it falls below, the price may move to around 3150-3135.
Strategy: [1] Currently, the 3440-50 area is temporarily set to see pressure adjustment
Go long if the key support is stabilized below, and pay attention to 3187-3170 -3153-you can go long
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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.
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.