Analysis of gold market trend next week:
Analysis of gold news: Spot gold hit a historical high of $3004.99/ounce on Friday (March 14), but then profit-taking transactions occurred, and the price of gold fell sharply from the high, falling to a low of $2978.22/ounce. Global markets collectively rose, stocks soared, and European stock markets also rose across the board. The news that the US government may avoid a shutdown and US President Trump's latest statement on the situation in Russia and Ukraine helped drive the stock market up, thereby stimulating risk appetite and negative gold trends. The decision of the US Federal Open Market Committee next week and the signal from Federal Reserve Chairman Powell will determine whether spot gold will remain above or below $3,000.
Gold technical analysis: For gold, we are definitely concerned about whether it will rise or fall next week. At present, gold will gain some breathing space in the short term. However, since the gold crisis is still in a bullish trend, this also leads to a short-term correction and consolidation trend of gold. After the big rise, it entered into a shock consolidation, which is also a common trend in this round of rising trend. Although the decline at the end of Friday was not very strong, the upward trend cannot be easily reversed by a single decline, and it requires greater strength and time.
From the current market, gold surged this week and directly broke through the 3,000 mark. It closed above the previous historical high of 2,956 on Friday. The gold price stood above the upper track of the weekly daily Bollinger band, which is needed to push gold higher. Gold will attract certain technical buying at the 3,000 mark. The weekly big positive closing line shows that the recent decline has been recovered, and the overall structure is absolutely strong; the overall structure of the daily line is needless to say that the bullish pattern is strong; in terms of 4 hours, after the high-rise and fall trend on Friday, the current price is running below the short-term 5-day moving average again, and driving the short-term 5-day moving average 2990 to turn downward, and the macd indicator has signs of a dead cross again, although it is beneficial to the shorts, but other periodic indicators remain in a long position, and the Bollinger band runs upward as a whole, so the 4-hour aspect may not rule out a small decline, but the overall rebound still has the momentum.
Based on the above, it is recommended to focus on longs at low levels and supplementary shorts at high levels next week. For the beginning of next week, first pay attention to the pressure level of the 3000 mark above, and you can try short-term shorting. If it pulls up strongly and breaks the historical high of 3004, then change your mind and go back below the 3000 mark to continue to do long orders to participate in the upward continuation. As for the support below, we should first pay attention to 2972. If it continues to go above, we should continue to look at the 2990-3000 area or higher. Secondly, we should focus on the support near 2960 and continue to participate in long positions. Taken together, in terms of short-term gold operation ideas next week, our professional and senior gold analyst team recommends mainly going long on callbacks, supplemented by shorting on rebounds. The short-term focus on the upper side is the resistance of 3005-3010, and the short-term focus on the lower side is the support of 2970-2965.
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Analysis of the latest gold market trend:
Analysis of gold news: In the early European trading 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 US 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. Last week, spot gold closed up $74.78, a 2.57% increase. In terms of fundamentals, US President Trump's global trade war and its impact on the US 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 US dollar.
Technical analysis of gold: 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 a wave of consecutive positive highs on the daily K-line, the attached indicator was unable to keep up with the momentum of the new high. From the indicator chart, there is still a need for a short-term correction. The stimulation of the news and the weakness of the US dollar have limited the short-term adjustment space. With the correction of sideways consolidation and then slow rise, the trend of one step and one turn back is presented, and the volatility base is large. 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 Friday's low of 2987.
The four-hour price of gold runs above the upper line and the plus medium speed line. The short-term moving average forms a bond, and it is obvious that time is exchanging space. If the price regains the upper line and the guidance line also closes, it means that the four-hour short position has officially started. In the hourly chart, after the fall of 3005 on Friday, a wave of pressure formed at 3000 at the alternating time of the European and American markets. Controlled, the U.S. market rebounded at 2995 to form a wave of suppression. Currently, the key hourly chart is suppressed, but the 30-minute upper line has been suppressed. Therefore, from a rhythm point of view, it should be the 30-minute suppression, falling back to the lower line, and the hourly chart confirming the lower line. If the position is broken, it will further decline. If it does not break, it will fall back to the one-hour upper line to confirm, and it will rise again with the four-hour weak short. On the whole, our professional and senior gold analyst team recommends that the short-term operation of gold today is mainly based on callback longs, supplemented by rebound shorts. The short-term focus on the upper side is 3005-3010, and the short-term focus on the lower side is 2975-2970.
Trade closed: target reached
At the gold daily level, the cross star after three consecutive positive days can be ignored. The short-term continues to maintain a low-level bullish thinking. In terms of operation, it relies on the 5-day moving average to enter the market. The extreme 10-day moving average continues to be bullish. From the perspective of the morphological structure, 3004 is not a high point. The upper trend line pressure is around 3036. The 4-hour level market hit 3004 and then fell back to a high level of shock and consolidation. The price was strongly consolidated and corrected at 2978. It retreated to 2982 and rebounded during the day. The low point continued to rise. The strong upward pattern of 2978 remains unchanged.
The 1-hour moving average of gold is arranged in a bullish pattern. The support of the 1-hour moving average of gold has now moved up to around 2985. Gold fell back to the support near 2985 in the US market and continued to buy on dips. The gold bulls have not ended yet. Gold continues to try to break through the new high resistance above. As long as there is no sharp correction, gold will most likely continue to break through the new high after accumulating momentum.
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🏆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.