There are opportunities for short-term buying and selling today
Gold continues to rise on the daily chart, and bulls increase their volume! The structure remains intact, and the moving average and K-line remain in a bullish arrangement. At present, the price of the daily chart continues to move up from the high point of the MA5-day moving average, and the MA10/7-day moving average keeps opening and moves up to 2880/2898. The price continues to extend to the upper track of the Bollinger Band. The RSI indicator daily chart is close to 80 again. It should be noted on Friday that when the gold price hits a new record high again, the indicator signal may be overbought. On the weekly chart, the gold price has risen for 8 consecutive weeks.
The short-term four-hour moving average also keeps opening upward, and the price moves up from the MA7-day moving average. The moving average keeps opening upward, and the price is running in the upper track of the hourly chart and the four-hour chart Bollinger Band channel. The trading idea on Friday is still mainly to pull back low and long, and then go short after the historical high or previous high key resistance test in the European and American markets.
Yesterday, gold fluctuated downward in the Asian and European sessions. The price in the NY market fell to 2864 and then started to counterattack. As of today, it has risen to 2932. Judging from yesterday's trend, the first half of the session was running well, and the NY market made a desperate counterattack. At the same time, today's rebound high exceeded our expectations. From the current market, the daily chart has signs of V. Yesterday's bottoming and rebounding directly limited the range of today's adjustment!
Gold is now under pressure at the top of the entity in the previous 4 hours, and gold has begun to stagnate. From the trend chart, the oscillating upward trend has not changed. If gold cannot go up in 1 hour, then gold may still form a double top structure. Before gold breaks through strongly, gold is currently blocked at a high level and falls back. Even if you go long, you must wait patiently for opportunities after the decline, and don't chase more at the top. So from a strategic point of view, both long and short positions have opportunities!
Key points:
First support: 2922, second support: 2915, third support: 2902
First resistance: 2938, second resistance: 2948, third resistance: 2957
Operation ideas:
BUY: 2913-2915, SL: 2904, TP: 2930-2940;
SELL: 2958-2960, SL: 2969, TP: 2930-2920;
The short-term four-hour moving average also keeps opening upward, and the price moves up from the MA7-day moving average. The moving average keeps opening upward, and the price is running in the upper track of the hourly chart and the four-hour chart Bollinger Band channel. The trading idea on Friday is still mainly to pull back low and long, and then go short after the historical high or previous high key resistance test in the European and American markets.
Yesterday, gold fluctuated downward in the Asian and European sessions. The price in the NY market fell to 2864 and then started to counterattack. As of today, it has risen to 2932. Judging from yesterday's trend, the first half of the session was running well, and the NY market made a desperate counterattack. At the same time, today's rebound high exceeded our expectations. From the current market, the daily chart has signs of V. Yesterday's bottoming and rebounding directly limited the range of today's adjustment!
Gold is now under pressure at the top of the entity in the previous 4 hours, and gold has begun to stagnate. From the trend chart, the oscillating upward trend has not changed. If gold cannot go up in 1 hour, then gold may still form a double top structure. Before gold breaks through strongly, gold is currently blocked at a high level and falls back. Even if you go long, you must wait patiently for opportunities after the decline, and don't chase more at the top. So from a strategic point of view, both long and short positions have opportunities!
Key points:
First support: 2922, second support: 2915, third support: 2902
First resistance: 2938, second resistance: 2948, third resistance: 2957
Operation ideas:
BUY: 2913-2915, SL: 2904, TP: 2930-2940;
SELL: 2958-2960, SL: 2969, TP: 2930-2920;
Trade active
2923now. The strategy of buying at 2913~2915 has made a profit of 100pips. Pay attention to the closing part and move the SL protection
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🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
Related publications
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.