Analysis of gold market trends next Monday:
Technical analysis of gold: From the performance of the daily chart, the recent trend of gold prices has shown a high consolidation trend, and there has been a significant correction from the high point near $3,500. After hitting the low point of the week, the gold price rebounded to a certain extent, but the rebound strength was blocked near the 23.6% Fibonacci retracement level (about $3,368-3,370), which has now become an important short-term resistance. The opening trend of the gold market on Friday was like Thursday, and the Asian session started to pull up and rise all the way to around $3,370. However, it encountered strong resistance here, and then turned downward and started to fall. It is worth noting that today's gold price not only failed to break through this key resistance level, but also fell below the low point hit by yesterday's European and American sessions, and rebounded after reaching a minimum of $3,265.
From the current market structure, the position of $3,260 has become the focus of the market, and investors need to pay close attention to whether the gold price can reach or even fall below this point. Once it effectively breaks, the bearish trend will be further strengthened, and the market may usher in a deeper adjustment. From the current form, there are two Yins enveloping Yangs, so the adjustment will continue at the beginning of next week; of course, this adjustment can be replaced by sideways trading, which means that it is not ruled out that it will run back and forth in the 3260-3380 range. On the whole, the short-term operation strategy for gold next Monday is recommended to be mainly long on pullbacks, supplemented by short on rebounds. The short-term focus on the upper resistance of 3368-3370, and the short-term focus on the lower support of 3265-3260. Friends must keep up with the rhythm. It is necessary to control the position and stop loss, set stop loss strictly, and do not resist single operation. The specific points are mainly based on real-time intraday trading. Welcome to experience and exchange real-time market conditions.
Reference for gold operation strategy next Monday: Strategy 1: Short gold rebounds near 3368-3370, target near 3300-3285, and look at the 3260 line when it breaks.
Strategy 2: Go long on gold when it pulls back to around 3265-3270, target around 3290-3330, and look at the 3370 line if it breaks.
Technical analysis of gold: From the performance of the daily chart, the recent trend of gold prices has shown a high consolidation trend, and there has been a significant correction from the high point near $3,500. After hitting the low point of the week, the gold price rebounded to a certain extent, but the rebound strength was blocked near the 23.6% Fibonacci retracement level (about $3,368-3,370), which has now become an important short-term resistance. The opening trend of the gold market on Friday was like Thursday, and the Asian session started to pull up and rise all the way to around $3,370. However, it encountered strong resistance here, and then turned downward and started to fall. It is worth noting that today's gold price not only failed to break through this key resistance level, but also fell below the low point hit by yesterday's European and American sessions, and rebounded after reaching a minimum of $3,265.
From the current market structure, the position of $3,260 has become the focus of the market, and investors need to pay close attention to whether the gold price can reach or even fall below this point. Once it effectively breaks, the bearish trend will be further strengthened, and the market may usher in a deeper adjustment. From the current form, there are two Yins enveloping Yangs, so the adjustment will continue at the beginning of next week; of course, this adjustment can be replaced by sideways trading, which means that it is not ruled out that it will run back and forth in the 3260-3380 range. On the whole, the short-term operation strategy for gold next Monday is recommended to be mainly long on pullbacks, supplemented by short on rebounds. The short-term focus on the upper resistance of 3368-3370, and the short-term focus on the lower support of 3265-3260. Friends must keep up with the rhythm. It is necessary to control the position and stop loss, set stop loss strictly, and do not resist single operation. The specific points are mainly based on real-time intraday trading. Welcome to experience and exchange real-time market conditions.
Reference for gold operation strategy next Monday: Strategy 1: Short gold rebounds near 3368-3370, target near 3300-3285, and look at the 3260 line when it breaks.
Strategy 2: Go long on gold when it pulls back to around 3265-3270, target around 3290-3330, and look at the 3370 line if it breaks.
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.
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.