🔥GOLD TREND ANALYSIS FOR NEXT MONDAY✅
Updated
The trend of gold this week showed an upward trend in the second half of the period, with the weekly closing as a big positive line with some small upper and lower shadow lines. On Friday, we publicly pointed out that short orders were carried out on the 2375-2378 line. As a result, the big negative line once touched 2355, showing a downward trend. Gold did not rush higher again in the second half of the night, but reversed downwards, forming a "big positive resistance line" pattern on the weekly chart. This may be a signal of a plunge, suggesting that 2378 is likely to be a stage high. Although there may still be repeated bullish trends after the big positive line, next week's surge will be an excellent short-selling opportunity, because the rebound of the K-line is only for shorting.
The four-hour stochastic indicator temporarily shows a dead cross, but due to insufficient time on Friday and the market was suspended over the weekend, whether the evolution of the four-hour chart will turn sideways will not be determined until next week. The rising point is supported at 2330, which is the key support level for the long-short top-bottom transition. The golden four-hour line deviates far from the moving average. I have always believed that the K-line will return to the moving average. This is an established fact. Overnight, the price of gold showed a bearish top pattern, that is, a large negative line entity surrounded by a positive line entity, forming an obvious downward pattern, which can also be regarded as a top signal. The hourly trend gradually formed a small top shape, and the K line continued to bear pressure on the short-period moving average, indicating that there is still room for adjustment in the short-term trend. Therefore, next week we will continue to focus on short opportunities near 2372-2378, the target can be set at the 2353 midline support position.
On the whole, it is recommended that the short-term operation of gold next Monday is mainly to go short on the rebound, supplemented by the long position on the callback. The resistance range of short-term concern at the top is 2372-2378, and the support range of short-term concern at the bottom is 2330-2332.
Note
Next week, the market will pay close attention to U.S. inflation data, including Tuesday's PPI and Wednesday's CPI. In addition, Federal Reserve Chairman Powell's speech will also have an impact on the market. The gold market shines in uncertainty. Although price fluctuations may be affected by a variety of factors in the short term, the nature of gold as a safe-haven asset has not changed in the long term. When considering investing in gold, investors should pay close attention to economic data, market sentiment and policy trends to make informed decisions. U.S. April CPI data released next week is expected to have a significant impact on the market. The U.S. Consumer Price Index (CPI) is a key indicator for measuring a country's inflation level and has a profound impact on financial markets, monetary policy decisions, and economic forecasts. The market generally expects that the CPI data to be released in April may be cooler than the previous month, which will have an important impact on the Federal Reserve's interest rate decision.Note
Gold Trading Strategies Reference🎯Strategy 1: Go short when gold rebounds to around 2372-2378, stop loss 6 points, target around2355-2345, break the position and look at the 2335 line✅
🎯Strategy 2: Go long when gold pulls back to around 2332-2335, stop loss by 6 points, target around 2345-2355, and look at the 2360 line if the position is broken✅
Note
The trend of gold in early trading today is in line with our expectations yesterdayLast Friday, gold continued its strong performance from the previous day, hitting a maximum of around 2378 before stopping, while the U.S. market retreated again around 2356, forming a small adjustment. The lower moving average system also deviates far away, which suggests that a period of repair may be needed in the short term. The support level is expected to remain between the early top-to-bottom conversion range of 2355-2350. This position will also be related to the conversion of the long-short situation in the later period. At present, the long and short situation is still in a state of anxiety, and the current position may still be a test. The upper suppression level remains at the 2370 line, because in a volatile market, the early morning high usually affects the daily trend. Of course, the strength of the European market will still affect the trend of the US market. If the European market is weak, the rebound of the US market may be blocked. Based on last week's trend, although there was a rebound at the weekend, the energy is likely to have been exhausted, and the retracement may continue in the short term. Therefore, in today's gold operation, we will first focus on the short-selling idea.
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