Gold market trend analysis:
Gold technical analysis: This week, gold prices fluctuated, opening at 3332. So far, the high is 3500 US dollars and the low is 3260 US dollars. On Monday, it soared by 100 US dollars. On Tuesday, it continued to rise to 3500 highs in the Asian session and then fell back. On Tuesday and Wednesday, it plummeted by nearly 240 US dollars. The volatility slowed down on Thursday. The overall intraday fluctuations remained within 3367-3288. Today, the weekly line closed. The weekly line will compete for the closing of the Yin-Yang cross K line. The short-term is more intense. From the consolidation on Thursday, there is no further decline, which also leaves room and suspense for today's weekly closing. If the weekly line closes lower, it is expected to adjust further next week. Pay attention to the closing strength and weakness of the weekly K line this week.
Today's opening trend of the gold market is like yesterday. The Asian session started the upward mode, rising all the way to around 3370 US dollars. However, it encountered strong resistance here, and then turned downward and started a decline. It is worth noting that today's gold price not only failed to break through this key resistance level, but also fell below the low hit in yesterday's European and American sessions, falling to a low of US$3,287 before rebounding.
In view of the important trend of gold price breaking the key point, the market will most likely continue the short-selling idea in the future. From the current market structure, the position of $3260 has become the focus of the market. Investors need to pay close attention to whether the gold price can reach or even fall below this point. Once it effectively falls below, the short-selling trend will be further strengthened, and the market may usher in a deeper adjustment.
From the hourly level, yesterday's low was at $3306, and the rebound just now showed an obvious stop signal at this position. Based on this, the current short-term suppression level can refer to $3315, and the upper level is $3328. For short-term investors, you can consider waiting for the gold price to rebound to around $3315 to arrange a short order and continue to be bearish on the gold price. The first thing to pay attention to below is the support of the low point just touched at $3287. If this support level is lost, the next key support level will be $3260, the first low point on the previous downward journey. If $3260 is also effectively broken, the short-selling force will be further released, and the gold price may face a larger decline. On the whole, today's short-term operation strategy for gold is to short on rebound and long on pullback. The upper short-term focus is on the 3315-3320 resistance line, and the lower short-term focus is on the 3285-3260 support line. Friends must keep up with the rhythm.
Gold operation strategy reference: short gold rebound near 3310-3320, target near 3290-3285, break to see 3260 line.
Gold pullback near 3270-3260 long, target near 3290-3310, break to see 3330 line.
Gold technical analysis: This week, gold prices fluctuated, opening at 3332. So far, the high is 3500 US dollars and the low is 3260 US dollars. On Monday, it soared by 100 US dollars. On Tuesday, it continued to rise to 3500 highs in the Asian session and then fell back. On Tuesday and Wednesday, it plummeted by nearly 240 US dollars. The volatility slowed down on Thursday. The overall intraday fluctuations remained within 3367-3288. Today, the weekly line closed. The weekly line will compete for the closing of the Yin-Yang cross K line. The short-term is more intense. From the consolidation on Thursday, there is no further decline, which also leaves room and suspense for today's weekly closing. If the weekly line closes lower, it is expected to adjust further next week. Pay attention to the closing strength and weakness of the weekly K line this week.
Today's opening trend of the gold market is like yesterday. The Asian session started the upward mode, rising all the way to around 3370 US dollars. However, it encountered strong resistance here, and then turned downward and started a decline. It is worth noting that today's gold price not only failed to break through this key resistance level, but also fell below the low hit in yesterday's European and American sessions, falling to a low of US$3,287 before rebounding.
In view of the important trend of gold price breaking the key point, the market will most likely continue the short-selling idea in the future. From the current market structure, the position of $3260 has become the focus of the market. Investors need to pay close attention to whether the gold price can reach or even fall below this point. Once it effectively falls below, the short-selling trend will be further strengthened, and the market may usher in a deeper adjustment.
From the hourly level, yesterday's low was at $3306, and the rebound just now showed an obvious stop signal at this position. Based on this, the current short-term suppression level can refer to $3315, and the upper level is $3328. For short-term investors, you can consider waiting for the gold price to rebound to around $3315 to arrange a short order and continue to be bearish on the gold price. The first thing to pay attention to below is the support of the low point just touched at $3287. If this support level is lost, the next key support level will be $3260, the first low point on the previous downward journey. If $3260 is also effectively broken, the short-selling force will be further released, and the gold price may face a larger decline. On the whole, today's short-term operation strategy for gold is to short on rebound and long on pullback. The upper short-term focus is on the 3315-3320 resistance line, and the lower short-term focus is on the 3285-3260 support line. Friends must keep up with the rhythm.
Gold operation strategy reference: short gold rebound near 3310-3320, target near 3290-3285, break to see 3260 line.
Gold pullback near 3270-3260 long, target near 3290-3310, break to see 3330 line.
Trade active
If the support of 3290-85 below is not broken, you can continue to go long! Cautious investors can choose to wait and see, and continue to short at high levels after the rebound.The market changes rapidly. There is a lyric that says "I don't ask for forever, forever is too far away." I want to say, don't say what the future market will be like, the future is too far away, the market is all current, and the transaction is also current. There may be some changes in the news and emotions every day. Nothing is constant. The important thing is the present. Facing the ups and downs of the K-line, you must know the meaning behind it. Facing the confusing market, only by watching more, summarizing more, and learning more, the market sense will naturally follow you, and you can see the light. Facing the ups and downs of the market, if you are still wandering and confused, you must first improve and change yourself, and keep learning! I can still maintain an accurate trading plan every day.
Trade closed: target reached
The above are several viewpoints of the author's technical analysis. They are for reference only. They are also the summary of technical experience accumulated from watching the market and reviewing the market for more than 12 hours a day in the past decade. Technical points will be disclosed every day, accompanied by text and video interpretation. Friends who want to learn can refer to the actual trend for comparison; those who agree with the ideas can refer to the operations, take good defense, and put risk control first; those who disagree can just ignore it; thank you for your support and attention;
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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.