Gold operation strategy November 27
Updated
📳 Gold Technical Analysis and Operational Strategies (November 27, 2024)
♦️Today (November 27), the price of gold began to fluctuate upward in the Asian session. The price of gold broke through yesterday's high and continued to climb upward, reaching a high of 2654. At present, gold is still in a stage of rebound and shock, but the overall trend has not reversed, so the operation idea is still mainly to rebound and short. After the gold price broke through the 2650 line, it still failed to form a strong upward trend. The long and short forces in the market are still in the game, and the opportunity for shorting in the short term is relatively greater.❗
♦️Technical analysis:
Upper pressure level: From the 4-hour chart, the gold price has now reached around 2654. Next, we need to pay attention to the suppression of the 2656-2660 range. This position is an important technical resistance level. If the gold price rebounds here and is suppressed, it may face strong selling, forming a good short entry point.
Lower support level: Pay attention to the support of the 2606-2612 range below. If the gold price falls back and approaches this support area, you can consider short-term long operations, but you need to carefully judge whether the callback stabilizes.❗
♦️Today's operation strategy:
Short-selling strategy:
Entry point: When gold rebounds to the 2658-2660 range, consider shorting.
Stop loss setting: The stop loss can be set near 2669 to prevent the price from breaking through resistance and rebounding.
Target: The target below is set to the 2615-2622 range. It is expected that if the gold price falls back, this area will provide strong support.❗
♦️Rebound callback shorting:
Today, the rebound shorting is still the main focus. Patiently wait for gold to rebound to the 2658-2660 range to enter a short order. Since the trend has not reversed yet, short orders at this position are more favorable.
Be cautious in the middle range operation:
If the gold price fluctuates between 2650 and 2658, you can be patient and avoid chasing orders in the middle range without a clear trend.❗
🔴Risk control:
Stop loss suggestion: Due to the large market volatility, ensure that the stop loss is set at 2669 to avoid losses caused by the rebound after the price breaks through the pressure level.
Position management: In terms of operation, it is necessary to maintain a reasonable position, avoid blindly adding positions in the oscillation range, and beware of market reverse fluctuations.‼️
✅Summary:
Gold is still in the rebound and oscillation stage, and the trend has not changed fundamentally. Therefore, it can continue to short based on the pressure of the 2658-2660 area. The support level below focuses on the 2606-2612 range. If it falls back to this level and stabilizes, you can consider short-term long positions. It is recommended that investors maintain flexible operations, patiently wait for key points to enter the market, avoid chasing orders in the oscillation range, and ensure the accuracy of operations and risk control.
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Market analysis summary:
Daily trend: Although gold broke through yesterday's high (2641) and rose today, there is a big negative line on the daily chart that swallowed up the gains of the previous few trading days, indicating that the current market's upward momentum is gradually weakening. The K-line broke the short-term moving average, and the short-term trend is weak.
4-hour level: After a wave of sharp declines, the price is currently in a low-level consolidation. The rebound in the short term is close to the completion of technical repair, and the subsequent decline may continue.
Hourly level: Currently in a narrow range of fluctuations, short-term adjustment is still the main theme. Although the downward momentum has slowed down, the rebound pressure has not yet been confirmed, so it is unlikely to reverse in the short term.
Market sentiment: The sharp decline seems to have been recognized by the market, and it is unlikely to have a subversive rebound in the short term. However, be aware that sudden geopolitical risks may trigger risk aversion and lead to a reverse rise in the short term.
Operation suggestions:
Short order strategy: The current price in the 2652-2654 range can be considered to open a short position. The target price can be seen in the 2645-2635 area.
Risk warning:
Pay attention to sudden geopolitical events or sudden changes in market sentiment, which may affect the volatility of gold prices. If risk aversion heats up, there may be a short-term rebound.
Overall, the current short-term trend of gold remains weak. It is recommended to maintain a short-term mindset, but it is still necessary to respond flexibly to market changes, especially to guard against potential geopolitical risks.
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