Gold has been strong recently, and both technical and fundamental factors show that bulls are in a dominant position. Although there is no clear reversal signal at the daily level of gold, the high-level pullback is more like a normal adjustment in the rising process rather than a trend reversal. We still need to remain vigilant and pay close attention to market dynamics, especially the risk of high-level reversal. At present, the upper resistance is 3485-3490, and the lower support is 3444-3440. In terms of operation, I suggest shorting on rebounds and long on pullbacks. Once the market direction changes suddenly, it is particularly important to withdraw in time and avoid risks.
Operation strategy 1: It is recommended to go short at 3465-3470 on the rebound, stop loss at 3480, and the target is 3445-3430.
Operation strategy 2: It is recommended to go long at 3430-3425 on the pullback, stop loss at 3417, and the target is 3450-3480, and the target is 3500 if it breaks through.
Operation strategy 1: It is recommended to go short at 3465-3470 on the rebound, stop loss at 3480, and the target is 3445-3430.
Operation strategy 2: It is recommended to go long at 3430-3425 on the pullback, stop loss at 3417, and the target is 3450-3480, and the target is 3500 if it breaks through.
Trade active
In today's short-term operation of gold, it is recommended to focus on longs on callbacks, supplemented by shorts on rebounds. The upper short-term focus will be on the 3450-3460 first-line resistance, and the lower short-term focus will be on the 3405-3400 first-line support.
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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.