Gold Spot / U.S. DollarUpdated Analysis of gold on December 26
After experiencing five waves of daily level rise and reaching the top, gold formed a top at 2790 and pulled back. The gold price then accelerated to 2546 and then rebounded to 2720, but the price fluctuated widely at a high level.
A double top fallback structure was formed at 2720. In the short term, it further fell to 2583 and then rebounded. The current price is around 2583, forming an ascending triangle consolidation structure. The upper resistance is 2635, which is in the short-term rebound repair stage.
Overall, the trend of gold has changed from rising to sideways consolidation. The short-term trend is in the rebound repair stage after falling. In terms of operation, pay attention to the consolidation of the triangle structure before operating.
Operation suggestions:
Long order: If the price falls back to the bottom of the triangle structure 2610 without breaking, you can consider participating in the order.
Target: 2625, 2635, 2664.
Short order: If the price rebounds to the 2630-2625 area, you can consider participating in this range.
Target: 2610, 2595, 2580.
Steady operation: It is recommended to wait for the gold price to break through the triangle consolidation area before entering the market.
If it breaks through the 2630-2635 area, you can consider long orders.
Target: 2665, 2680, 2700.
If it rebounds to the 2610-2600 area, you can consider short orders.
Target: 2585, 2560, 2545.
If you have any different views on the future of gold, please leave a message and like it. Thank you
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After accumulating momentum and adjusting for more than ten hours at 2630-2625, gold prices finally fell under pressure at the opening of the US market under the stimulation of news, forming a downward breakthrough in the short term. In terms of operation, short-term layout can be participated.
SELL 2625-2628
SL2636
TP2617
TP2610
Pay attention to the support strength of the lower edge of the triangle structure that previously indicated a rebound repair.
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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.