Technical analysis of gold: Gold surged to around 3245 last Friday and then adjusted. After falling back to around 3210 in the morning, it stabilized and pulled up again, forming a phased double top suppression at the 3245 line, and then adjusted in the European session. In the 4-hour level trend, the short-term moving average began to gradually diverge downward, and the price began to slowly fall below the previous row of support bands. In the short-term trend, it began to gradually weaken. Pay attention to whether there is a small rebound in the late trading to confirm the secondary downward trend. It can be seen that the 4-hour moving average ma10 has been broken, so the previous support at 3220 has now become a suppression point. And it can be found that the position of the lower am20 moving average is currently at 3180-70. Therefore, in the next 4 hours, if it cannot stand above 3220, it will face a continued retracement and decline. And there is a high probability that it will retreat deeply to 3170-60.
From the perspective of the short-term trend hourly level, the price of gold had a short correction after last week's strong rise, but it was quickly recovered and then went higher, so there is no obvious support level to refer to. Today's overall trend is volatile. Without the influence of data and news, gold does not have the basis for a sharp rise or fall. The price of gold in the US market has signs of a pullback, but it is also trading around 3200. Since it is a trend of high-level consolidation, we can continue to implement the idea of rebounding and shorting. So far, the price has been repeatedly consolidated at a relatively high level of 3193-3215. Pay attention to the effective gains and losses of the MA10-day moving average; if it closes with a big negative line, it will pull back in the short term and gradually move closer to the middle track; if it closes with a long lower shadow K line, it will not go down for the time being, and it will continue to consolidate at a high level; On the whole, today's short-term operation strategy for gold is to rebound and short, supplemented by callbacks and longs. The short-term focus on the upper side is 3215-3220 resistance, and the short-term focus on the lower side is 3187-3190 support.
When gold rebounds to around 3215-3218, short sell (buy short) in batches, 20% of the position, stop loss 6 points, target around 3200-3195, break to look at 3187
Gold will pull back to around 3187-3190, buy long (buy up) 20% of the position in batches, stop loss 6 points, target around 3200-3210, break to look at 3215
From the perspective of the short-term trend hourly level, the price of gold had a short correction after last week's strong rise, but it was quickly recovered and then went higher, so there is no obvious support level to refer to. Today's overall trend is volatile. Without the influence of data and news, gold does not have the basis for a sharp rise or fall. The price of gold in the US market has signs of a pullback, but it is also trading around 3200. Since it is a trend of high-level consolidation, we can continue to implement the idea of rebounding and shorting. So far, the price has been repeatedly consolidated at a relatively high level of 3193-3215. Pay attention to the effective gains and losses of the MA10-day moving average; if it closes with a big negative line, it will pull back in the short term and gradually move closer to the middle track; if it closes with a long lower shadow K line, it will not go down for the time being, and it will continue to consolidate at a high level; On the whole, today's short-term operation strategy for gold is to rebound and short, supplemented by callbacks and longs. The short-term focus on the upper side is 3215-3220 resistance, and the short-term focus on the lower side is 3187-3190 support.
When gold rebounds to around 3215-3218, short sell (buy short) in batches, 20% of the position, stop loss 6 points, target around 3200-3195, break to look at 3187
Gold will pull back to around 3187-3190, buy long (buy up) 20% of the position in batches, stop loss 6 points, target around 3200-3210, break to look at 3215
This is your gateway to wealth
Welcome to join our trading team
t.me/+fkCVmo8SFiJkMDZk
Welcome to join our trading team
t.me/+fkCVmo8SFiJkMDZk
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.
This is your gateway to wealth
Welcome to join our trading team
t.me/+fkCVmo8SFiJkMDZk
Welcome to join our trading team
t.me/+fkCVmo8SFiJkMDZk
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.