3.6 Analysis of gold market trends
Gold technical analysis:
Yesterday's market review: Gold fluctuated in a large range yesterday. It opened at 2918 in the Asian morning session and then fell back to 2901, and then quickly rose to 2922.
During the US trading session, it fell back to 2894 again. Stimulated by technical support and fundamental positive factors, it quickly rebounded to 2930 and finally closed at 2918, forming a morning star pattern with a very long lower shadow.
Interpretation of daily line patterns:
The morning star pattern usually indicates that the market may reverse, but combined with the trend of silver, gold may continue to rise today, and it is recommended to focus on high shocks in operation. If it effectively breaks through the resistance of 2930, gold may further test 2936, 2945 or even near the previous high. Once it reaches the level, short selling may be considered. After reaching it, short selling can be considered.
Key point analysis:
Support level:
2900-2902: short-term moving average MA5 position, currently near 2900, providing short-term support.
2894: Yesterday's low point, short-term long-short watershed, if it falls below, it may test the support near 2800.
Resistance level:
2930: Yesterday's high point, short-term key resistance.
2945, 2954/2956: Previous high points, potential suppression of price upward.
Moving average analysis:
The price low hit the short-term moving average MA5 (near 2900). MA5 turned upward, but MA10 is still slightly downward. In the short term, focus on high fluctuations.
If it falls below 2894, gold may further test the support of 2800; if it breaks through 2930, it may test the resistance of 2945 and higher.
Operation ideas:
Short-term operation: mainly long on pullbacks, supplemented by short on rebounds.
Upper resistance: 2942-2945.
Lower support: 2900-2902.
3.6 Gold operation strategy reference
Short order strategy:
Strategy 1:
Entry point: Short gold when it rebounds to around 2942-2945.
Stop loss setting: Stop loss 80PIPS.
Target point: First target: around 2930-2920.
Second target: If it breaks, look down to 2910.
Long order strategy:
Strategy 2:
Entry point: Long gold when it pulls back to around 2900-2902.
Stop loss setting: Stop loss 80PIPS.
Target point: First target: around 2920-2930.
Second target: If it breaks, look up to 2945.
Operation points:
Position management: Strictly control positions and avoid heavy positions.
Stop loss setting: Strictly implement stop loss to prevent large losses caused by market reversal.
Target point: Flexibly adjust the target according to the market trend. If the key point is broken, you can hold or increase the position appropriately.
Real-time tracking: The market changes rapidly. It is recommended to flexibly adjust the strategy in combination with real-time trends and technical indicators.
Risk warning:
If gold falls below the 2894 support, be alert to further downside risks. Short orders can be held or increased.
If gold breaks through the 2930 resistance, it may open up upward space. Long orders can be held or increased.
Summary:
Today's gold operation is mainly long on pullbacks, supplemented by short on rebounds. Focus on the 2900-2902 support and 2942-2945 resistance. Flexibly adjust the strategy in combination with real-time market conditions.
