Key technical signals of gold at present: Continuous long positive lines on the hourly line, lower shadow support and long moving average arrangement confirm short-term strength, and the slope accelerates to the target of 3200. The price broke through the previous high of 3127 and closed at 3123.8, showing bullish dominance, but we need to be wary of profit-taking after the new high.
Yesterday's rapid rebound near 3100 shows that the market has strong carrying capacity, but if it falls back to this position again, we need to observe the effectiveness of support.
Key support and resistance
Support: 3100, 3080, 3076.
Resistance: 3140 (Fibonacci extension level), 3165 (upper channel rail), 3200 (integer level).
Operation strategy suggestions
Aggressive long: 3124 long stop loss 3110, target 3140→3160; if it pulls back to 3108 to stabilize and cover positions, the unified stop loss is 3095, and the target remains unchanged. Reduce positions by 50% near 3200 and move up the capital protection stop loss.
Steady entry: If the market stabilizes after a pullback to the 3105-3110 area, add more positions to reduce the risk of chasing highs.
Short risk reminder: RSI may be overbought. If the hourly line shows a real negative line and falls below 3100 or the MACD top diverges, be alert to the pullback to the 3080-3070 support zone.
Market sentiment and fundamentals
Risk aversion: If geopolitical or economic data (such as non-agricultural) strengthens the demand for risk aversion, it may accelerate the rush to the top. A sudden drop in liquidity during an extreme rise may amplify volatility, so avoid holding heavy positions overnight.
Go with the trend: Do not go short against the trend before the bullish trend is broken, but stop loss must be strictly enforced. It is not advisable to chase highs at the current price. Wait for a pullback or a breakthrough to confirm before intervening.
Yesterday's rapid rebound near 3100 shows that the market has strong carrying capacity, but if it falls back to this position again, we need to observe the effectiveness of support.
Key support and resistance
Support: 3100, 3080, 3076.
Resistance: 3140 (Fibonacci extension level), 3165 (upper channel rail), 3200 (integer level).
Operation strategy suggestions
Aggressive long: 3124 long stop loss 3110, target 3140→3160; if it pulls back to 3108 to stabilize and cover positions, the unified stop loss is 3095, and the target remains unchanged. Reduce positions by 50% near 3200 and move up the capital protection stop loss.
Steady entry: If the market stabilizes after a pullback to the 3105-3110 area, add more positions to reduce the risk of chasing highs.
Short risk reminder: RSI may be overbought. If the hourly line shows a real negative line and falls below 3100 or the MACD top diverges, be alert to the pullback to the 3080-3070 support zone.
Market sentiment and fundamentals
Risk aversion: If geopolitical or economic data (such as non-agricultural) strengthens the demand for risk aversion, it may accelerate the rush to the top. A sudden drop in liquidity during an extreme rise may amplify volatility, so avoid holding heavy positions overnight.
Go with the trend: Do not go short against the trend before the bullish trend is broken, but stop loss must be strictly enforced. It is not advisable to chase highs at the current price. Wait for a pullback or a breakthrough to confirm before intervening.
Trade active
After the current gold price fell from $3150, it stabilized at the top-bottom conversion support level of $3125 (starting point in the early trading), and the key long-short defense is still at $3100. In the bull market, the operation should follow the trend and go long at low prices, and do not guess the top. The top is determined by the market rather than predicted. The current price of $3128 is still a long opportunity. Investors who missed the long position in the early trading can enter the market at the current price without hesitation, waiting for the big positive line to rise! The short-term target is $3200 or even higher. It is still in the early and middle stages of the trend, so there is no need to panic.Today's operation strategy:
The callback is mainly long, and the support below is 3110-3120 US dollars. The 3125-3130 US dollar area can be arranged in batches. The stop loss is below 3100, and the target is 3150-3160 US dollars. After breaking through, it looks at 3200 US dollars.
Rebound short selling is supplemented. If the price touches the resistance area of 3150-3160 US dollars for the first time and there is a stagflation signal, you can try short selling with a light position and enter and exit quickly.
Key points: Strictly stop loss, trade with the trend, do not guess the top against the trend, and keep up with the market rhythm!
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.