Gold market analysis:
The weekly gold line hit a high and then fell back. The bulls reached a high of 3167. There was a big dive on Thursday and Friday, and the weekly line finally closed with a big tombstone. This morning, the lowest price of gold fell to 2971, and the range of ups and downs was very large. The daily line did not reflect it and directly broke all the support of the moving average, which means that the short-term top has appeared. In the later period, gold will begin to fluctuate at a high level and make a large structural adjustment. At present, the possibility of a large shock is relatively large, because this wave of sharp decline is caused by data and fundamentals. If the weekly line closes with a big negative again this week, it will bring a deep adjustment of the weekly line. I estimate that there will be a large shock and repair at the beginning of the week, and it will continue to fall in the second half of the week.
Gold bottomed out and rebounded in the early trading, closing with a big positive line in 4 hours. The short-term decline met support and rebounded. We estimate that the range of the big repair in the white market is 3084-3000. You can make profits in this range. At present, catching its rhythm is the most important thing. Gold is swinging quite a lot, try to do it in a big position.
Support 3000 and 3012, suppress 3055 and 3084, and the watershed of strength and weakness in the market is 3000.
Fundamental analysis
Last week's fundamentals were very stimulating. Trump's tariffs caused gold to plunge, and the positive non-agricultural data did not bring gold back to the buying momentum.
Operational suggestions
Gold------Buy near 3012, target 3055-3084
The weekly gold line hit a high and then fell back. The bulls reached a high of 3167. There was a big dive on Thursday and Friday, and the weekly line finally closed with a big tombstone. This morning, the lowest price of gold fell to 2971, and the range of ups and downs was very large. The daily line did not reflect it and directly broke all the support of the moving average, which means that the short-term top has appeared. In the later period, gold will begin to fluctuate at a high level and make a large structural adjustment. At present, the possibility of a large shock is relatively large, because this wave of sharp decline is caused by data and fundamentals. If the weekly line closes with a big negative again this week, it will bring a deep adjustment of the weekly line. I estimate that there will be a large shock and repair at the beginning of the week, and it will continue to fall in the second half of the week.
Gold bottomed out and rebounded in the early trading, closing with a big positive line in 4 hours. The short-term decline met support and rebounded. We estimate that the range of the big repair in the white market is 3084-3000. You can make profits in this range. At present, catching its rhythm is the most important thing. Gold is swinging quite a lot, try to do it in a big position.
Support 3000 and 3012, suppress 3055 and 3084, and the watershed of strength and weakness in the market is 3000.
Fundamental analysis
Last week's fundamentals were very stimulating. Trump's tariffs caused gold to plunge, and the positive non-agricultural data did not bring gold back to the buying momentum.
Operational suggestions
Gold------Buy near 3012, target 3055-3084
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.