The gold market has recently shown a clear bearish-dominated pattern, with the weekly closing high and long upper shadow negative line, combined with the gap of $50 opened lower this week, the technical bearish signal is strong. Although there was a violent rebound to 3055 during the Asian session, filling part of the gap, it encountered strong suppression near the 5-day moving average of 3030, which happened to be the resistance level transformed from the previous key support, forming a typical technical "top and bottom conversion".
Key technical analysis
Large cycle structure:
Weekly level: Long upper shadow negative line with low opening, confirming the top pressure
Daily level: Moving average system short arrangement, 3030 becomes the long-short watershed
Key support system: 3030-3000-2980 (downward layer by layer)
Core resistance: 3055 (gap filling position), 3030 (top and bottom conversion)
Trend evolution characteristics:
Support levels are lost one after another (3030→3000→2980) and short momentum continues to increase
The market enters a high volatility shock repair stage
Current market characteristics
Volatility characteristics:
Single-day volatility exceeds 100 US dollars
Quick conversion of long and short (violent rebound after a sharp drop in the Asian session)
Repeated testing of technical positions (3030 key position)
Trading environment:
High volatility makes stop loss more difficult
Technical position effectiveness is enhanced
Need to be vigilant against false breakthrough risks
Professional trading strategy
Short opportunities:
Entry Point: Near 3055 (top and bottom conversion suppression zone)
Risk control: Strict stop loss above 3060
Target level: 3035→3030 (take profit in batches)
Applicable conditions: Maintain validity before breaking through 3060
Long position layout:
Ideal position: 2958-2960 (weekly moving average support)
Stop loss setting: below 2953 (previous low protection)
Target outlook: 2980→3000 (step profit)
Core logic: grasp the opportunity of oversold rebound
Key risk control points
Position management:
Single risk control at 1-2%
Adopt batch position building strategy
Trading timing:
Asian session is mainly observed
U.S. session focuses on breakthrough opportunities
Emergency plan:
Short position immediately stops loss after breaking through 3060
Long position layout is temporarily suspended after breaking through 2950
Focus on the future market
3030 key position competition:
Continued pressure maintains short position thinking
Effective breakthrough requires re-evaluation
Key technical analysis
Large cycle structure:
Weekly level: Long upper shadow negative line with low opening, confirming the top pressure
Daily level: Moving average system short arrangement, 3030 becomes the long-short watershed
Key support system: 3030-3000-2980 (downward layer by layer)
Core resistance: 3055 (gap filling position), 3030 (top and bottom conversion)
Trend evolution characteristics:
Support levels are lost one after another (3030→3000→2980) and short momentum continues to increase
The market enters a high volatility shock repair stage
Current market characteristics
Volatility characteristics:
Single-day volatility exceeds 100 US dollars
Quick conversion of long and short (violent rebound after a sharp drop in the Asian session)
Repeated testing of technical positions (3030 key position)
Trading environment:
High volatility makes stop loss more difficult
Technical position effectiveness is enhanced
Need to be vigilant against false breakthrough risks
Professional trading strategy
Short opportunities:
Entry Point: Near 3055 (top and bottom conversion suppression zone)
Risk control: Strict stop loss above 3060
Target level: 3035→3030 (take profit in batches)
Applicable conditions: Maintain validity before breaking through 3060
Long position layout:
Ideal position: 2958-2960 (weekly moving average support)
Stop loss setting: below 2953 (previous low protection)
Target outlook: 2980→3000 (step profit)
Core logic: grasp the opportunity of oversold rebound
Key risk control points
Position management:
Single risk control at 1-2%
Adopt batch position building strategy
Trading timing:
Asian session is mainly observed
U.S. session focuses on breakthrough opportunities
Emergency plan:
Short position immediately stops loss after breaking through 3060
Long position layout is temporarily suspended after breaking through 2950
Focus on the future market
3030 key position competition:
Continued pressure maintains short position thinking
Effective breakthrough requires re-evaluation
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.
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.