Gold on Monday depends on this wave of operationsBefore the non-agricultural data on Friday, gold maintained an overall oscillating pattern, opening at 3354, briefly rising to around 3375 and then falling under pressure, entering an overall oscillating downward mode. We also caught the rhythm of long orders many times and successfully exited the market with profits. Although the non-agricultural data was bearish, gold did not dive quickly, but rebounded to around 3363 after short-term fluctuations, and then fell under pressure again, and finally closed in an inverted head shape, with obvious technical bearish signals.
From the perspective of form, gold is expected to continue to rebound high and high next week. Focus on the support of this week's low point of 3296. Once it falls below, it is possible to further explore the 3270-3260 area. However, if this position remains stable and unbroken, the market still has room for rebound and repair.
From a specific technical perspective, the obstructed decline of the 3375 line on Friday is more critical, with the lowest intraday drop to 3307, and the bearish momentum is still strong. It is recommended to be prudent in operation and do not blindly chase orders.
🔸Operation ideas for gold next week:
1️⃣ If it rebounds to 3320-3325, you can try to arrange short orders. If it rebounds further to 3338-3345, it is recommended to cover short positions.
2️⃣ The first target is the 3295-3306 area. If it effectively falls below, continue to hold and look for a lower position.
3️⃣ The support below is focused on the 3295-3285 area, and the pressure above is still mainly 3335-3345. The market is mainly oscillating in the middle of the range. It is recommended to watch more and act less, and wait for key point signals before intervening.
If you are currently having trouble with gold operations, welcome to communicate with me. I will update the strategy as soon as possible according to the intraday market and try my best to make your investment less detours.
