📌 Core view: short-term volatility is weak, but the medium- and long-term bullish logic remains unchanged
Key range: 3270-3325 (maintain high selling and low buying before breaking through)
Bull-bear watershed: 3325 (stand firm and turn strong, continue to fluctuate downward under pressure)
Market driving factors: Fed rate cut expectations + trade friction risk aversion + US dollar trend
📊 Technical analysis
1. Daily level
Trend: turn positive after consecutive negatives, but still subject to the pressure of 3325, and no strong reversal has been formed.
Key position:
Support: 3270-3280 (Bollinger middle rail + previous low)
Resistance: 3325 (see 3365 if breaking through)
Indicator signal:
KDJ dead cross is being repaired, and the short momentum is weakened, but it is still volatile before the golden cross is formed.
MACD shrinks, indicating that the downward momentum has slowed down, but it has not turned to bullish.
2. 4-hour level
Form: Bollinger Bands close, moving averages stick together (3280-3325 oscillation), waiting for a directional breakthrough.
Key observation points:
If it stands at 3310-3325, it may test 3365.
If it falls below 3270, it may drop to 3250-3230.
🎯 Trading strategy (June 2)
1. Short order strategy (main strategy) (short order invalidated if strong upward breakthrough)
Entry: 3310-3315 (close to the upper edge of the range)
Stop loss: 3325
Target: 3280 → 3260 → 3250 (step-by-step profit stop)
Logic: Short-term rebound of the US dollar + gold Before 3325 is broken, the probability of gold falling under pressure is high.
2. Long-order strategy (secondary strategy) (abandon if strong decline breaks)
Entry: 3270-3280 (close to support level)
Stop loss: 3260
Target: 3300 - 3325 (hold to 3365 if break)
Logic: bullish in the medium and long term, if it falls back to support in the short term, you can buy low and rebound.
⚠️ Risk warning
Fed policy changes: Many officials spoke this week. If dovish signals are released (such as confirming 2 interest rate cuts this year), gold may rise rapidly.
Dollar trend: If the dollar pulls back, gold will be supported, but we need to be wary of losses on short positions.
Geopolitical risks: Sudden news such as trade frictions and the situation in the Middle East may trigger safe-haven buying.
📌 Summary
Short-term operation ideas: short near 3315, stop loss 3325, target 3250 (if it breaks through 3325, go long).
Mid-term operation ideas: If it falls back to 3250-3230, you can arrange long orders, with the target at 3360-3400.
Long-term operation ideas: After the Fed starts the interest rate cut cycle, gold is expected to hit 3500+.
Key points: All transactions need to be combined with real-time data to flexibly adjust strategies and control position risks.
Trade active
Gold prices closed lower on Friday (May 30) and the dollar strengthened as the market was assessing the impact of the latest tariff policy developments, while weak inflation data maintained market expectations for the Federal Reserve to cut interest rates. Spot gold closed at around $3,289 per ounce, down 0.83% on the day and more than 2.1% for the week. Tariff issues may continue to affect market trends next week after a federal appeals court ruled on Thursday to temporarily restore Trump-era tariff policies. In addition, Federal Reserve Chairman Powell will deliver an opening speech at an important event next Tuesday, which will be his first public statement since meeting with Trump this week. Several Federal Reserve officials will also speak during the same period. From a technical perspective, our team of professional investment analysts believes that gold prices may continue to test the support strength of the Bollinger Band middle track near $3,300 next week. If the geopolitical situation eases, prices may further drop to around $3,250.
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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.
Related publications
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.