Friday Market Analysis and Signals
Updated
Gold rose first and then fell, and the market fluctuated widely. Today, we will continue to see wide fluctuations. The hourly chart forms a consolidation triangle range adjustment. The hourly and four-hour moving averages are glued together, and the RSI indicator returns to the central axis and flattens. At present, the market will maintain this oscillation pattern for the time being. Let's look at the 2715-2745 range for the day.
Gold is now starting to build a top at a high level, and the bulls are limited. Gold will start a new adjustment at any time. Gold rebounds and continues to be short. Gold rebounds above 2745 in the Asian session and goes directly short! The market is not simply going to chase long when it rises, and going to chase short when it falls, nor is it going to buy the bottom when it falls, and touching the top when it rises.
Trading strategy:
The 1-hour moving average of gold turns downward and is about to form a dead cross. If the moving average of gold forms a downward dead cross pattern, then the room for gold to fall will be further opened, and the decline of gold may have just begun. We will sell gold near 2745 in the Asian session. Sell high and buy low in the 2715~2745 range.
Gold is now starting to build a top at a high level, and the bulls are limited. Gold will start a new adjustment at any time. Gold rebounds and continues to be short. Gold rebounds above 2745 in the Asian session and goes directly short! The market is not simply going to chase long when it rises, and going to chase short when it falls, nor is it going to buy the bottom when it falls, and touching the top when it rises.
Trading strategy:
The 1-hour moving average of gold turns downward and is about to form a dead cross. If the moving average of gold forms a downward dead cross pattern, then the room for gold to fall will be further opened, and the decline of gold may have just begun. We will sell gold near 2745 in the Asian session. Sell high and buy low in the 2715~2745 range.
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