Market Status Analysis
The gold market showed a correction trend this week. The continuous decline of the big negative line made the short-term trend bearish, but from the overall pattern, it is still too early to assert that the trend has reversed. The current market is at a critical technical node, and the long and short sides are fighting fiercely near the important support level.
Technical analysis
Weekly level analysis
The overall bullish structure remains intact, and this week's correction can be regarded as a normal technical correction
The 5-week moving average 3000 mark constitutes an important support, and the 10-week moving average provides additional support
The first negative line after four consecutive positive lines on the weekly line is in line with the characteristics of a healthy technical correction
As long as the key psychological level of 3000 is not lost, the medium-term bullish trend remains unchanged
Daily level observation
The short-term bearish signal of Yin-enclosing Yang appears
Although the price broke below the short-term moving average and pierced the middle track of the Bollinger band, it eventually closed above the middle track
The long lower shadow shows that the low-level buying power is strong
The short-term still has the momentum to pull back and test the 10-day moving average
4-hour cycle characteristics
The Bollinger band opening extends downward, indicating a short-term downward trend
The K-line closed negative continuously, and the bears have a short-term advantage
Focus on the defense of the 3000 integer mark
Key price prompts
Upper resistance: 3042 (initial resistance) → 3058 (key resistance (Strong resistance) → 3072 (strong resistance)
Support level below: 3026 (short-term support) → 3015 (important support) → 3000 (lifeline support)
Operation strategy suggestions
Long-term layout strategy
Ideal position building area: 3015-3020 range
Strict stop loss setting: below 3000
Target price: 3040-3050 area
It is recommended to hold long positions with protective stop loss
Short-term opportunities
Short-term short positions can be considered when rebounding above 3050
Stop loss must be strictly set
Quick entry and exit operation is recommended
Risk control points
If it effectively falls below the 3000 mark, it may trigger a deeper correction
It is necessary to pay close attention to the trend of the US dollar and changes in market risk sentiment
Major economic data may change the current technical pattern
It is recommended to operate with a light position and strictly control the risk of a single transaction
Outlook for the future market
Although there are short-term adjustment signals, gold is still under the control of bulls as a whole. The 3000 integer mark will become a watershed between long and short positions, and if it holds this position, the bullish view will be maintained. Suggestions for investors:
Keep buying on dips above 3000
Pay close attention to the defense of key support levels
Flexibly adjust positions to cope with market fluctuations
Strictly follow risk management principles
The gold market showed a correction trend this week. The continuous decline of the big negative line made the short-term trend bearish, but from the overall pattern, it is still too early to assert that the trend has reversed. The current market is at a critical technical node, and the long and short sides are fighting fiercely near the important support level.
Technical analysis
Weekly level analysis
The overall bullish structure remains intact, and this week's correction can be regarded as a normal technical correction
The 5-week moving average 3000 mark constitutes an important support, and the 10-week moving average provides additional support
The first negative line after four consecutive positive lines on the weekly line is in line with the characteristics of a healthy technical correction
As long as the key psychological level of 3000 is not lost, the medium-term bullish trend remains unchanged
Daily level observation
The short-term bearish signal of Yin-enclosing Yang appears
Although the price broke below the short-term moving average and pierced the middle track of the Bollinger band, it eventually closed above the middle track
The long lower shadow shows that the low-level buying power is strong
The short-term still has the momentum to pull back and test the 10-day moving average
4-hour cycle characteristics
The Bollinger band opening extends downward, indicating a short-term downward trend
The K-line closed negative continuously, and the bears have a short-term advantage
Focus on the defense of the 3000 integer mark
Key price prompts
Upper resistance: 3042 (initial resistance) → 3058 (key resistance (Strong resistance) → 3072 (strong resistance)
Support level below: 3026 (short-term support) → 3015 (important support) → 3000 (lifeline support)
Operation strategy suggestions
Long-term layout strategy
Ideal position building area: 3015-3020 range
Strict stop loss setting: below 3000
Target price: 3040-3050 area
It is recommended to hold long positions with protective stop loss
Short-term opportunities
Short-term short positions can be considered when rebounding above 3050
Stop loss must be strictly set
Quick entry and exit operation is recommended
Risk control points
If it effectively falls below the 3000 mark, it may trigger a deeper correction
It is necessary to pay close attention to the trend of the US dollar and changes in market risk sentiment
Major economic data may change the current technical pattern
It is recommended to operate with a light position and strictly control the risk of a single transaction
Outlook for the future market
Although there are short-term adjustment signals, gold is still under the control of bulls as a whole. The 3000 integer mark will become a watershed between long and short positions, and if it holds this position, the bullish view will be maintained. Suggestions for investors:
Keep buying on dips above 3000
Pay close attention to the defense of key support levels
Flexibly adjust positions to cope with market fluctuations
Strictly follow risk management principles
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.