✅The current gold price has confirmed a breakthrough of the previous historical high of $2,790, reaching a maximum of $2,801. The daily level shows an accelerated upward trend, the EMA bullish arrangement slope continues to expand, the MACD double line runs above the zero axis and the red column kinetic energy increases, indicating that the market is in a strong unilateral market.
✅From the 4-hour level, the Bollinger Bands open upward at 45 degrees, the price runs along the upper track, the middle track (currently 2,778) constitutes a dynamic support, and the RSI indicator maintains the 60-80 overbought area passivation, showing the strong characteristics of the market. The recent callbacks are accompanied by shrinking volume, and the volume is enlarged when breaking through the key pressure, which is in line with the characteristics of a healthy rise.
🔴Upper resistance level:
-Short-term resistance: 2800 (integer psychological barrier)
-Secondary resistance: 2810 (extended Fibonacci 161.8%)
-Medium-term target: 2820 (channel upper rail projection)
🟢Lower support level:
-Core support: 2782-2785 (previous high conversion support band)
-Secondary support: 2774 (Fibonacci 38.2% retracement level)
-Trend defense: 2745-2733 (upward channel lower rail and previous double bottom structure)
✅Intraday trading strategy:
🔰Long strategy:
-Place long orders when retreating to the 2782-2785 area, and set the stop loss below 2774
-Aggressive operations can add positions in a pyramid-like manner near 2774, and control the total position within 5%
-The first target is 2800, and after breaking through, it can be seen to the 2810-2820 area
🔰Short strategy:
-Try shorting with a light position above 2810 (only for short-term retracement operations)
-Strictly stop loss above 2825, and target the 2795-2800 area
It is recommended that the short position does not exceed 3% of the total position
⛔Risk warning
-Focus on the fluctuation of US bond yields and the trend of the US dollar index
-Pay attention to the impact of programmatic trading that may be triggered by the 2800 integer mark
-It is recommended to reduce the leverage ratio before the release of important economic data
✅From the 4-hour level, the Bollinger Bands open upward at 45 degrees, the price runs along the upper track, the middle track (currently 2,778) constitutes a dynamic support, and the RSI indicator maintains the 60-80 overbought area passivation, showing the strong characteristics of the market. The recent callbacks are accompanied by shrinking volume, and the volume is enlarged when breaking through the key pressure, which is in line with the characteristics of a healthy rise.
🔴Upper resistance level:
-Short-term resistance: 2800 (integer psychological barrier)
-Secondary resistance: 2810 (extended Fibonacci 161.8%)
-Medium-term target: 2820 (channel upper rail projection)
🟢Lower support level:
-Core support: 2782-2785 (previous high conversion support band)
-Secondary support: 2774 (Fibonacci 38.2% retracement level)
-Trend defense: 2745-2733 (upward channel lower rail and previous double bottom structure)
✅Intraday trading strategy:
🔰Long strategy:
-Place long orders when retreating to the 2782-2785 area, and set the stop loss below 2774
-Aggressive operations can add positions in a pyramid-like manner near 2774, and control the total position within 5%
-The first target is 2800, and after breaking through, it can be seen to the 2810-2820 area
🔰Short strategy:
-Try shorting with a light position above 2810 (only for short-term retracement operations)
-Strictly stop loss above 2825, and target the 2795-2800 area
It is recommended that the short position does not exceed 3% of the total position
⛔Risk warning
-Focus on the fluctuation of US bond yields and the trend of the US dollar index
-Pay attention to the impact of programmatic trading that may be triggered by the 2800 integer mark
-It is recommended to reduce the leverage ratio before the release of important economic data
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.