Market news:
In the early Asian session on Friday (June 27), spot gold fluctuated slightly and is currently trading around $3,320/ounce. Market sentiment has fluctuated due to multiple factors. The easing of geopolitical tensions in the Middle East has weakened the attractiveness of gold as a safe-haven asset, causing the London gold price to fall in the past few trading days. At present, the market is in a state of shock and consolidation. Under the intertwined influence of the weakening of the US dollar and the easing of tensions in the Middle East, the market is in a wait-and-see mood. The current gold market is at the intersection of multiple factors. In the medium and long term, the low interest rate environment, geopolitical uncertainty and the potential for a weaker US dollar all provide structural support for gold. However, the speculative boom in platinum and palladium may have a diversion effect on the flow of funds in the gold market, and investors need to pay close attention to the flow of funds within the precious metals market. The current focus is on the US May personal consumption expenditures (PCE) price index, which will be released on Friday. This indicator is regarded as an important basis for the Federal Reserve to judge the inflation trend and monetary policy path. At the same time, a series of economic data released on the same day suggested that the momentum of the US economy was weakening, which strengthened the market's bet on interest rate cuts within the year. It may directly affect the short-term trend of international gold.
Technical Review:
The situation in the Middle East has eased, and the risk aversion of gold has begun to subside. The pressure on the 3400 mark has ushered in a sharp decline. At present, it has fallen to 3295 and rebounded. This position happens to be the support point of the upward trend line of the daily line 2955-3120. The rebound successfully defended the 3300 mark. The next day, gold fell to the low point of 3309 and still rebounded. It did not fall below the upward trend support point. The day ended with a small positive, indicating that there was buying below as a defense. Gold also bottomed out and rebounded in the early morning. The gold price fell to 3310 overnight and then rose strongly to 3332. The daily line closed with a small long shadow Yin K. The daily chart MA10/7-day moving average moved down to 3355/3344, and the RSI indicator ran below the central axis. The short-term four-hour moving average is glued together. Yesterday, the test of the 3350 middle track was under pressure. The price continued to run below the middle axis of the RSI indicator, and the price was running in the middle and lower tracks of the Bollinger Bands. Gold fluctuates and tends to sell. The main idea is to rebound and sell at a high price. From the perspective of the short-term trend, gold is definitely sold, but it should be noted that the 3300 mark is still held, the upward trend remains intact, and there is still a glimmer of hope for buying. In addition, the situation in the Middle East changes at any time, which can easily change the trend of gold.
Today's analysis:
The trend of gold has become weaker and weaker in the past two days. The bottoming out the day before yesterday was thought to continue to rise, but the rapid decline last night broke the original pattern. Although there was a rise during the period, the rise was not enough to cover yesterday's decline, which means that buying cannot be continued. In the future, it will turn into a weak shock and start to step down. Our operation during the day will also turn to the idea of rebounding and selling! Gold selling continues to gain momentum. The 4-hour moving average of gold has now entered a selling dead cross pattern, so the downward space for gold may be further opened, and the overall trend of gold in the 4-hour period is downward. The upper shadow line of gold in the 4-hour period is above 3340, which means that the entity of gold in the 4-hour period has not really stood firm above 3340. Gold above 3340 is a temptation to buy, so gold in the 4-hour period will continue to fluctuate and fall, and gold will continue to sell at high prices below 3340. Gold selling now seems strong every time it rebounds, but it is quickly beaten back to its original shape by selling. Buying is a false shot, and it is ultimately the main field for gold selling, so gold rebounds and continues to sell.
Operation ideas:
Buy short-term gold at 3297-3300, stop loss at 3289, target at 3340-3360;
Sell short-term gold at 3339-3342, stop loss at 3351, target at 3320-3300;
Key points:
First support level: 3310, second support level: 3296, third support level: 3273
First resistance level: 3332, second resistance level: 3343, third resistance level: 3356
In the early Asian session on Friday (June 27), spot gold fluctuated slightly and is currently trading around $3,320/ounce. Market sentiment has fluctuated due to multiple factors. The easing of geopolitical tensions in the Middle East has weakened the attractiveness of gold as a safe-haven asset, causing the London gold price to fall in the past few trading days. At present, the market is in a state of shock and consolidation. Under the intertwined influence of the weakening of the US dollar and the easing of tensions in the Middle East, the market is in a wait-and-see mood. The current gold market is at the intersection of multiple factors. In the medium and long term, the low interest rate environment, geopolitical uncertainty and the potential for a weaker US dollar all provide structural support for gold. However, the speculative boom in platinum and palladium may have a diversion effect on the flow of funds in the gold market, and investors need to pay close attention to the flow of funds within the precious metals market. The current focus is on the US May personal consumption expenditures (PCE) price index, which will be released on Friday. This indicator is regarded as an important basis for the Federal Reserve to judge the inflation trend and monetary policy path. At the same time, a series of economic data released on the same day suggested that the momentum of the US economy was weakening, which strengthened the market's bet on interest rate cuts within the year. It may directly affect the short-term trend of international gold.
Technical Review:
The situation in the Middle East has eased, and the risk aversion of gold has begun to subside. The pressure on the 3400 mark has ushered in a sharp decline. At present, it has fallen to 3295 and rebounded. This position happens to be the support point of the upward trend line of the daily line 2955-3120. The rebound successfully defended the 3300 mark. The next day, gold fell to the low point of 3309 and still rebounded. It did not fall below the upward trend support point. The day ended with a small positive, indicating that there was buying below as a defense. Gold also bottomed out and rebounded in the early morning. The gold price fell to 3310 overnight and then rose strongly to 3332. The daily line closed with a small long shadow Yin K. The daily chart MA10/7-day moving average moved down to 3355/3344, and the RSI indicator ran below the central axis. The short-term four-hour moving average is glued together. Yesterday, the test of the 3350 middle track was under pressure. The price continued to run below the middle axis of the RSI indicator, and the price was running in the middle and lower tracks of the Bollinger Bands. Gold fluctuates and tends to sell. The main idea is to rebound and sell at a high price. From the perspective of the short-term trend, gold is definitely sold, but it should be noted that the 3300 mark is still held, the upward trend remains intact, and there is still a glimmer of hope for buying. In addition, the situation in the Middle East changes at any time, which can easily change the trend of gold.
Today's analysis:
The trend of gold has become weaker and weaker in the past two days. The bottoming out the day before yesterday was thought to continue to rise, but the rapid decline last night broke the original pattern. Although there was a rise during the period, the rise was not enough to cover yesterday's decline, which means that buying cannot be continued. In the future, it will turn into a weak shock and start to step down. Our operation during the day will also turn to the idea of rebounding and selling! Gold selling continues to gain momentum. The 4-hour moving average of gold has now entered a selling dead cross pattern, so the downward space for gold may be further opened, and the overall trend of gold in the 4-hour period is downward. The upper shadow line of gold in the 4-hour period is above 3340, which means that the entity of gold in the 4-hour period has not really stood firm above 3340. Gold above 3340 is a temptation to buy, so gold in the 4-hour period will continue to fluctuate and fall, and gold will continue to sell at high prices below 3340. Gold selling now seems strong every time it rebounds, but it is quickly beaten back to its original shape by selling. Buying is a false shot, and it is ultimately the main field for gold selling, so gold rebounds and continues to sell.
Operation ideas:
Buy short-term gold at 3297-3300, stop loss at 3289, target at 3340-3360;
Sell short-term gold at 3339-3342, stop loss at 3351, target at 3320-3300;
Key points:
First support level: 3310, second support level: 3296, third support level: 3273
First resistance level: 3332, second resistance level: 3343, third resistance level: 3356
Trade active
Today we sold gold at 3310. Now the market price has reached our strategic target and even exceeded our expectations. We have made a profit. Now we will analyze the next trading signal. If you need it, please contact me!Trade closed: target reached
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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.
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.