Gold continued to rise strongly on Friday, breaking the high and closing. The U.S. gold price stabilized at the 3067 mark and continued to rise, and finally closed back above 3085, almost the highest point of the day. The daily K-line closed with two consecutive positive days of shock and breaking the high. The overall gold price firmly stood above the 3050 mark, continuing the strong unilateral rhythm of the bulls. However, after the opening of today, the gold price continued to accelerate and pierced the 3097 mark, and then fell back under pressure and adjusted rapidly. In the short term, the gold price is expected to usher in repeated long and short fluctuations at the 3100 integer mark. Don’t chase more near 3100 at present. Although it rebounded near 3097 at the opening and then rebounded after touching the lowest level of 3077, this wave of technical adjustments is far from reaching the target. We continue to maintain the idea of retreating and going long.
From the 4-hour analysis, the support below is around 3065-73, with a focus on the 3056 first-line support below. The short-term pressure above is 3100-3106. Relying on this range during the day, the main tone of the high-altitude low-multiple cycle remains unchanged.
Gold operation strategy:
1. Buy when gold falls back to 3065-3073, add more when it falls back to 3056, stop loss at 3045, target at 3105-3108, continue to hold if it breaks
From the 4-hour analysis, the support below is around 3065-73, with a focus on the 3056 first-line support below. The short-term pressure above is 3100-3106. Relying on this range during the day, the main tone of the high-altitude low-multiple cycle remains unchanged.
Gold operation strategy:
1. Buy when gold falls back to 3065-3073, add more when it falls back to 3056, stop loss at 3045, target at 3105-3108, continue to hold if it breaks
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Operation strategy 1: It is recommended to go short at 3134-3139 on the rebound, stop loss at 3144, and the target is 3115-3110.Operation strategy 2: It is recommended to go long at 3110-3105 on the pullback, stop loss at 3095, and the target is 3140-3160. If you are bruised and battered in the market, you can click on the link, I am determined to help you get back on your feet
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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.