Technical analysis of gold: From a technical perspective, the overall framework of gold's rise has not changed. I said before that from a macro level, the conditions for breaking highs have been met, but in the short term, it will go back and forth several times before it can go up. If there is no adjustment, no washing, no horizontality, no shock, and the foundation is not solid, even if it goes up, it will come down quickly. If you want a solid rise, then give the market more patience. Today, gold is running around the bottoming out and rebounding pattern. After a sharp drop in the early trading, it quickly recovered the lost ground, and the signal has been released: the current key support reference is around 3280, and the upward movement needs to break through and stabilize the key dividing point of 3330. In the early trading, it fell back under pressure at 3330. Only when the entity stands firmly at this position can the breakthrough pattern of yesterday be reproduced. If the Asian and European sessions can close above 3330 steadily, the European and American sessions can directly see the new high of 3360/3370 area.
For today's market, I think it will still fluctuate upward, and will adjust and fluctuate at the current relatively low level for a period of time! If there are friends who are ready to get on the train today, then 3280 or below can be done in batches step by step. After the hourly line cycle opened the decline of 3324 and broke, today's market was not weak, and there was further upward continuation. I also said that the recent market cannot chase the rise and kill the fall. On the whole, it is still a wide range of shocks. Washing the market trend should be a violent roller coaster before the subsequent surge. The European market relies on the low point of 3310 as a defense. In the short term, continue to open more and look up, pay attention to 3350/3360. At that time, a new round of band rise will emerge, and this should be paid attention to! So I said that based on the general trend, short-term corrections are opportunities! On the whole, today's short-term operation strategy for gold is to focus on long positions on corrections and short positions on rebounds. The short-term focus on the upper side is the 3360-3370 line of resistance, and the short-term focus on the lower side is the 3280-3290 line of support.
Short order strategy:
Strategy 1: When gold rebounds around 3360-3365, short (buy short) 20% of the position in batches, stop loss 10 points, target around 3330-3320, break the position and look at 3310
Long order strategy:
Strategy 2: When gold falls back to around 3312-3315, buy long positions in batches (buy up) of 20% of the position, stop loss 10 points, target around 3330-3350, break the position and look at 3360
For today's market, I think it will still fluctuate upward, and will adjust and fluctuate at the current relatively low level for a period of time! If there are friends who are ready to get on the train today, then 3280 or below can be done in batches step by step. After the hourly line cycle opened the decline of 3324 and broke, today's market was not weak, and there was further upward continuation. I also said that the recent market cannot chase the rise and kill the fall. On the whole, it is still a wide range of shocks. Washing the market trend should be a violent roller coaster before the subsequent surge. The European market relies on the low point of 3310 as a defense. In the short term, continue to open more and look up, pay attention to 3350/3360. At that time, a new round of band rise will emerge, and this should be paid attention to! So I said that based on the general trend, short-term corrections are opportunities! On the whole, today's short-term operation strategy for gold is to focus on long positions on corrections and short positions on rebounds. The short-term focus on the upper side is the 3360-3370 line of resistance, and the short-term focus on the lower side is the 3280-3290 line of support.
Short order strategy:
Strategy 1: When gold rebounds around 3360-3365, short (buy short) 20% of the position in batches, stop loss 10 points, target around 3330-3320, break the position and look at 3310
Long order strategy:
Strategy 2: When gold falls back to around 3312-3315, buy long positions in batches (buy up) of 20% of the position, stop loss 10 points, target around 3330-3350, break the position and look at 3360
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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.