11.4 Gold daily line support high position is not guaranteed
In terms of gold, the overall gold price fell last Friday. The highest price rose to 2762.08 on the day, and the lowest price fell to 2733.08, closing at 2734.94. Looking back at the details of the gold market performance last Friday, the price stopped rising in the short term after the opening of the morning session, and then maintained a state of fluctuating rise during the day. At the same time, during the US session, the price rose and fell with the help of data, and then the price continued to fall weakly, and finally ended in a big negative state on the daily line. Today, Monday morning, it opened directly with a gap down. From the low point, the 2731-2734 range is the long-short watershed position at the daily level. Pay attention to the downhill performance of this area in the future. Once it breaks down, the band is expected to be further under pressure in the future. At the same time, from the four-hour level, pay attention to the resistance of the 2755-2756 range for the time being, and wait for the subsequent price to step back and then go short. As long as the price does not temporarily break the high point of last Friday, it will be treated as short first. There are signs of correction in the short term in the one-hour chart. At the same time, the price is in the key support area of the daily chart, so we will wait for the price to fall back and then go short. Once the price breaks below the 2731-2734 area, it is expected to be under further pressure.
Note
BUY: 2740 Stop loss: 35
First target: 45
Second target: 50
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