XAUUSD||Gold extends rally, tests key resistance!
Updated
✅Gold rose directly after opening in the morning, and the performance of the market is still relatively strong, but in the short term, gold is still suppressed by the resistance of 2639, and the current price is in a volatile pattern. After the New Year, gold re-stood on the key support level of 2620. Whether this rise can continue to rise remains to be further observed. After a long period of volatility, the market may choose a breakthrough direction.
✅It is worth noting that some markets are concerned about whether the current rise is a trap, especially the 2640 line has been suppressed many times. However, from the perspective of technical analysis, after the resistance is touched many times in the upward trend, the resistance effect will usually weaken, and the probability of breaking is higher. Therefore, the possibility of breaking through the 2640 resistance is relatively high.
✅From the four-hour chart, the recent price pierced the upper track and fell back near the medium-term moving average, but it bottomed out and rebounded on Tuesday and performed relatively strongly. At present, the price is still running in the downward channel, and there is still some space from the edge of the channel. The form is still inclined to be bullish.
✅The hourly chart shows that there is a weak short signal at a high level, but the structure is still in a volatile weak short pattern; while the 30-minute chart has formed a bullish structure of bottoming out and rebounding. Therefore, based on the analysis of the four-hour and daily charts, it is recommended to buy on dips first in today's operation, and at the same time pay attention to whether the hourly chart breaks through the acceleration line and then falls back before following the trend to follow up with long orders. For short orders, it is recommended to wait for the four-hour chart to turn to a short signal before participating. Overall, the current gold bull trend is still dominant, but short-term operations need to be flexibly responded to in combination with key resistance and support positions.
🔴Upper resistance: 2639-2645
🟢Lower support: 2620-2622
✅Intraday Trading strategy:
🔶GOLD SELL: 2639-2642
🔰TP1: 2630
🔰TP2: 2625
🔰TP3: 2620 OPEN~
🔶GOLD BUY: 2620-2622
🔰TP1: 2635
🔰TP2: 2645
🔰TP3: 2650 OPEN~
🔥If you are experiencing losses or feel unconfident in your trading, please contact me in time. I will provide you with accurate trading strategies and real-time trading guidance at every critical moment to help you accurately grasp market trends, ensure that your trading is more stable and efficient, and steadily increase your profits🤝
✅It is worth noting that some markets are concerned about whether the current rise is a trap, especially the 2640 line has been suppressed many times. However, from the perspective of technical analysis, after the resistance is touched many times in the upward trend, the resistance effect will usually weaken, and the probability of breaking is higher. Therefore, the possibility of breaking through the 2640 resistance is relatively high.
✅From the four-hour chart, the recent price pierced the upper track and fell back near the medium-term moving average, but it bottomed out and rebounded on Tuesday and performed relatively strongly. At present, the price is still running in the downward channel, and there is still some space from the edge of the channel. The form is still inclined to be bullish.
✅The hourly chart shows that there is a weak short signal at a high level, but the structure is still in a volatile weak short pattern; while the 30-minute chart has formed a bullish structure of bottoming out and rebounding. Therefore, based on the analysis of the four-hour and daily charts, it is recommended to buy on dips first in today's operation, and at the same time pay attention to whether the hourly chart breaks through the acceleration line and then falls back before following the trend to follow up with long orders. For short orders, it is recommended to wait for the four-hour chart to turn to a short signal before participating. Overall, the current gold bull trend is still dominant, but short-term operations need to be flexibly responded to in combination with key resistance and support positions.
🔴Upper resistance: 2639-2645
🟢Lower support: 2620-2622
✅Intraday Trading strategy:
🔶GOLD SELL: 2639-2642
🔰TP1: 2630
🔰TP2: 2625
🔰TP3: 2620 OPEN~
🔶GOLD BUY: 2620-2622
🔰TP1: 2635
🔰TP2: 2645
🔰TP3: 2650 OPEN~
🔥If you are experiencing losses or feel unconfident in your trading, please contact me in time. I will provide you with accurate trading strategies and real-time trading guidance at every critical moment to help you accurately grasp market trends, ensure that your trading is more stable and efficient, and steadily increase your profits🤝
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