Analysis of gold trading trends on March 18
Gold news: In the early trading of the U.S. market on Monday (March 17), spot gold maintained a mild rebound trend during the day. Gold prices consolidated recent gains below $3,000/ounce; gold prices hit an all-time high of $3,005/ounce last Friday. Under the influence of favorable fundamentals and technical factors, the upside potential of gold prices remains intact. Gold prices broke through the key $3,000/ounce mark for the first time last Friday as investors flocked to this safe-haven asset to avoid economic uncertainty caused by U.S. President Trump's tariff war. Spot gold hit an all-time high of $3,004.99/ounce during trading last Friday, but then profit-taking transactions occurred, with a daily decline of 0.16%. Last week, spot gold closed soaring $74.78, an increase of 2.57%. In terms of fundamentals, the global trade war triggered by U.S. President Trump and its impact on the U.S. economic outlook, the latest geopolitical tensions and the increased likelihood that the Federal Reserve will stick to its easing cycle continue to support the safe-haven appeal of gold prices while still dragging down the U.S. dollar.
Gold technical analysis: Gold fell back after hitting a high on Friday, and the cross small negative K-line closed flat, setting a new high at 3004.0. Entering the 3000 mark, but closing below. After the daily K-line hit a record high, the indicators in the attached picture were unable to further keep up with the momentum of the new high. From the indicator chart, there is still a short-term callback demand. The stimulation of the news, coupled with the weakness of the US dollar, limited the short-term adjustment space. Along with the sideways consolidation and correction, it slowly rose higher, showing a step-by-step approach, with a large base of fluctuations. The rise is fast and the correction is also fast. Combined with the market, the deviation of the daily chart price from the moving average needs to be corrected, and the key support is still around 2975.
From the perspective of the gold daily level, the cross star after three consecutive positives and the cross after a strong one can be ignored. In the short term, we continue to maintain a bullish thinking of lows and longs. In terms of operation, we rely on the 5-day moving average to enter the market, and the extreme 10-day moving average continues to be bullish. From the perspective of morphological structure, 3004 is not a high point. The top attention is on the trend line pressure around 3036. The 4-hour market price surged to 3004 and then fell back to the high level to consolidate.
From the perspective of the gold 1-hour level, the gold price is running sideways above 2978. It is currently in a strong correction of bulls. The moving average is golden cross on the indicator, and the Bollinger band opens upward. The short-term bulls are strong. The low point on March 17 is around 2982, so gold still forms a strong support at this line. Taken together, in terms of today's short-term gold operation ideas, our team of professional senior gold traders recommends to mainly do longs on callbacks, supplemented by shorts on rebounds. The top short-term focus is on the 3010-3012 first-line resistance, and the bottom short-term focus is on the 2978-2980 first-line support.
Trade active
Analysis of the latest trend of gold:
The overall trend of gold yesterday was in line with expectations, rising as expected. Although there was a decline during the session, it did not continue. The final closing price was around 3,000, which was a strong closing. Gold still has the momentum to continue to rise. There is a pullback to go long in operation. There is no resistance above for reference at present, so don't try to go short easily. There is no need to analyze the monthly K and weekly K of the big structure too much. There is a relatively obvious bullish trend. Short-term cooperation with the big structure to go long. Indicators: The 4-hour stochastic indicator is golden cross upward. In terms of K-line pattern, the positive K is obviously greater than the rising pattern of the negative K. The bulls are still strong. The current sideways support position of 2990-2985 supports the sideways position. This area is not effectively broken, and it continues to be bullish; the stochastic indicator in the daily K is golden cross upward, and the continuous big Yang in the pattern is also a bullish pattern. This strong pattern can only be driven by news and large data releases. The news data is random and cannot be accurately judged. At present, it is still based on the technical structure to go long.
The original plan was to wait for a wave of correction before going long and continue to be bullish, but the correction strength of the continued rise today was not strong. Now in the four-hour market, the position of the previous correction of 1.618 is near 3032. Today, we mainly focus on the suppression of this position; the lower support first focuses on the previous high of 3006 (also the position of the Asian midday correction), followed by the key support of 2985; now the gold price is at a high level, if you chase long, it is easy to have a correction situation. This operation is risky. Our professional and senior gold analyst team does not recommend chasing long at the current position.
The suggestion is to wait for the gold price to pull back and touch around 3006 to buy more and continue to watch the upward trend.
Trade closed: target reached
Latest gold trend analysis:
Gold news: On Tuesday (March 18), driven by economic concerns caused by US President Trump's trade policy, gold prices once again broke through the $3,000 mark on Tuesday, setting a new record high. This is the second record this week, showing the strong demand for safe-haven assets in the market. Trump's trade policy is significantly pushing up gold prices. The 25% tariff on steel and aluminum that took effect in February has caused concerns in the global market. The industry-specific and reciprocal tariffs to be implemented on April 2 may further exacerbate global trade concerns and enhance safe-haven buying.
Gold technical aspects: Gold continued to rise and strengthen on Tuesday, and the bullish trend was very stable. Every small correction was a good band low, and then continued to hit a record high. It has now broken through the 3030 line, and the upper track of the weekly channel has moved up to correct around 3038, and the upper track of the monthly channel has moved up to correct 3046. That is to say, there may be a short-term adjustment risk when approaching the 3040 line. At the beginning of the week, it rose strongly, and continued to insist on rebounding and bullish. However, in the short term, we must always be wary of sudden downward corrections. On the one hand, the height of the third upward wave will gradually approach, and the resistance of the upper track of the medium- and long-term channel will also approach. On the other hand, short-term indicators diverge and overbought; of course, if there is a wave of downward adjustment, it is still prepared for further highs in the future.
Short-term relying on the 3012 line to continue to rise strongly, pay attention to the gains and losses of this moving average, Monday morning directly went extremely strong, stabilized in advance at 2999 and broke the high, and continued in the European session. There is a high probability that it will rise again. To follow the bullish trend, it can only be tested above 3015; therefore, in terms of operation, our professional and senior gold analyst team recommends continuing to be bullish above 3015, and the target resistance is 3040. Beware of corrections near 3040, and then stabilize at a low level and gradually rise to engulf the decline. On the whole, today's short-term gold operation ideas, our professional and senior gold analyst team recommends to focus on longs on callbacks, supplemented by shorts on rebounds. In the short term at the top, focus on the first-line resistance of 3050-3055, and in the short term at the bottom, focus on the first-line support of 3004-2999.
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💥Free gold trading signals: t.me/+OJSbWQ6F4KM2Mzk1
🏆Strategy guidance
💰Analysis layout
🥇Market tracking
💹In-depth analysis, accurate prediction, grasp the pulse of the gold market, if you like my ideas, please follow and forward
🏆Strategy guidance
💰Analysis layout
🥇Market tracking
💹In-depth analysis, accurate prediction, grasp the pulse of the gold market, if you like my ideas, please follow and forward
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.