Gold encounters safe-haven rally, trend analysis and strategy
Updated
Last week, the daily gold line fell to 2536 and supported on the 20-day moving average. Affected by the risk aversion of Russia and Ukraine at the end of the week, the Asian session rose by $30 compared with last Friday, and the price was above the oscillating platform. From the perspective of the 1-hour chart, the rebound has not ended! Sell high and buy low during the day!
The 4-hour moving average of gold is still arranged in a bearish divergent downward, and there is still no sign of turning. The decline of gold has not ended. In the short term, it is just a rebound. There are still many resistances above gold. Continue to go short at highs under the upper resistance of 2618. Gold 2616 can enter the market first.
First support: 2571, second support: 2563, third support: 2554
First resistance: 2605, second resistance: 2616, third resistance: 2627
Trading strategy:
BUY:2573-2571
SELL:2616-2618
Sell high and buy low according to resistance support
The 4-hour moving average of gold is still arranged in a bearish divergent downward, and there is still no sign of turning. The decline of gold has not ended. In the short term, it is just a rebound. There are still many resistances above gold. Continue to go short at highs under the upper resistance of 2618. Gold 2616 can enter the market first.
First support: 2571, second support: 2563, third support: 2554
First resistance: 2605, second resistance: 2616, third resistance: 2627
Trading strategy:
BUY:2573-2571
SELL:2616-2618
Sell high and buy low according to resistance support
Trade closed: stop reached
Gold is a safe haven on the weekend. It rose and fell quickly in the Asian session. It does not have the momentum for a direct reversal. At most, it will start to fluctuate. Gold rebounds to a high level and continues to be short.
Although the 4-hour chart of gold has risen, it is still under pressure to fall back to 2600. There is no strong upward breakthrough. Don't be too optimistic about the safe haven sentiment of gold for the time being. Gold rose to 2597 in the Asian session and fell back. The European and American markets continue to be shorted at highs below 2597. Gold can enter the market at 2595 first.
Trading strategy:
SELL: 2595-2597
Signal update, trade according to the latest plan
Note
SELL:2595~2597 Run 40~60pips profit, you can set BE, how much you earn is up to you
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