From a technical perspective, the international gold price encountered strong resistance at the 3500 integer psychological barrier on a daily basis and then started a technical correction. However, the first two trading days of this week were closed with long positive candlesticks, forming a strong rebound pattern, basically recovering the previous retracement space, indicating that bullish momentum continued to accumulate. It is worth noting that the moving average system presents a bullish arrangement: the 5-day and 10-day moving averages are bonded together to form a golden cross pattern, the upward slope of the medium-term moving average group is steeper, and the resonance of technical indicators shows that the upward momentum is repaired.
Technically, gold showed a violent shock trend during the Asian session, which is in line with the technical characteristics of the recent overnight consolidation, but we need to be alert to the possibility of a deep retracement after a continuous mild upward trend. This pattern may indicate that the bullish buying power is weakening. If the key pressure level of 3404 is not effectively broken during the day, the probability of a short-term top will increase significantly. At the strategic level, it is recommended that you avoid chasing highs and focus on the transmission effect of the Federal Reserve's interest rate meeting on the real interest rate curve and the US dollar index. If the policy tone is dovish, precious metals may continue to rebound technically; if the statement is hawkish, it is necessary to guard against the risk of a correction. The current upper pressure range focuses on the 3397-3407 area, and the lower support band is in the 3360-3350 range. It is recommended to take the buying on dips strategy as the main strategy, and cooperate with the rebound high point short selling operation as a risk hedge.
Operation strategy:
1. It is recommended to go long in the 3366-3361 area for gold, with a stop loss at 3356 and a target of 3381-3411.
2. For gold, it is recommended to short in the 3415-3420 area, with a stop loss at 3427 and a target of 3355-3385.
Technically, gold showed a violent shock trend during the Asian session, which is in line with the technical characteristics of the recent overnight consolidation, but we need to be alert to the possibility of a deep retracement after a continuous mild upward trend. This pattern may indicate that the bullish buying power is weakening. If the key pressure level of 3404 is not effectively broken during the day, the probability of a short-term top will increase significantly. At the strategic level, it is recommended that you avoid chasing highs and focus on the transmission effect of the Federal Reserve's interest rate meeting on the real interest rate curve and the US dollar index. If the policy tone is dovish, precious metals may continue to rebound technically; if the statement is hawkish, it is necessary to guard against the risk of a correction. The current upper pressure range focuses on the 3397-3407 area, and the lower support band is in the 3360-3350 range. It is recommended to take the buying on dips strategy as the main strategy, and cooperate with the rebound high point short selling operation as a risk hedge.
Operation strategy:
1. It is recommended to go long in the 3366-3361 area for gold, with a stop loss at 3356 and a target of 3381-3411.
2. For gold, it is recommended to short in the 3415-3420 area, with a stop loss at 3427 and a target of 3355-3385.
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t.me/+WYSalPEhDtljZDNk
100% accurate trading signals
Free trading strategies
100% accurate trading signals
Free trading strategies
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.