Gold technical analysis and operation suggestions
Market review:
Yesterday, gold showed a bottoming-out and rebounding trend. It quickly dropped to 3250 in the Asian session and then stabilized and rebounded. It rose in the European and US sessions, reaching a high of 3296 before falling under pressure. After the US session stepped back to 3270 for the second time to confirm support, it accelerated to rise, breaking through the 3300 integer mark. The daily line closed with a bottoming-out and rebounding, indicating that the 3250 support is effective, and the short-term adjustment may come to an end.
Current trend:
Gold prices continued to rebound after opening today, and now hit the 3320 line. It is necessary to pay attention to the 3324 long-short watershed pressure. If it breaks through effectively, it will confirm the reversal, and you can step back and follow up with long orders; on the contrary, if it falls under pressure, consider arranging short orders at high levels.
Technical points:
4-hour chart: 3324 is the key long-short watershed, and the support below is 3295-3301 (yesterday's resistance conversion position).
Operation idea: high short and low long within the range, follow up after breaking through 3324.
Operation strategy:
Short order: 3321-24 light position short, stop loss 3332, target 3295-3301, hold after breaking down.
Long order: 3295-3301 stabilizes and goes long, stop loss 3287, target 3320-24, hold after breaking through.
Market review:
Yesterday, gold showed a bottoming-out and rebounding trend. It quickly dropped to 3250 in the Asian session and then stabilized and rebounded. It rose in the European and US sessions, reaching a high of 3296 before falling under pressure. After the US session stepped back to 3270 for the second time to confirm support, it accelerated to rise, breaking through the 3300 integer mark. The daily line closed with a bottoming-out and rebounding, indicating that the 3250 support is effective, and the short-term adjustment may come to an end.
Current trend:
Gold prices continued to rebound after opening today, and now hit the 3320 line. It is necessary to pay attention to the 3324 long-short watershed pressure. If it breaks through effectively, it will confirm the reversal, and you can step back and follow up with long orders; on the contrary, if it falls under pressure, consider arranging short orders at high levels.
Technical points:
4-hour chart: 3324 is the key long-short watershed, and the support below is 3295-3301 (yesterday's resistance conversion position).
Operation idea: high short and low long within the range, follow up after breaking through 3324.
Operation strategy:
Short order: 3321-24 light position short, stop loss 3332, target 3295-3301, hold after breaking down.
Long order: 3295-3301 stabilizes and goes long, stop loss 3287, target 3320-24, hold after breaking through.
Trade active
At present, gold is still strong in the short term. However, we need to pay attention to the fall back at night. The short-term resistance is 3356 area, which is the double position. The 3375 area and the 3400 mark are above. Therefore, we will not chase the rise at night. 3355 is expected to fall back and correct! Pay attention to the support of 3335-3330 area below. If it is not broken, it will rise again. If the market weakens and breaks the 3325-20 area, the market will go short, further 3300 and 3285, and then gradually test the annual trend support!Trade closed: target reached
Gold short-term trading strategyThe adjustment is nearing the end: the phased adjustment since 3460 has not yet been confirmed to be over, but the strong rebound after the bottom of 3260 on Monday (to 3345) shows that the short-selling momentum has weakened and the space for further decline is limited.
Waiting for the bottom structure: There is still a lack of definite bottom signals. Trading is temporarily operated according to the principle of following the trend. Wait for the top structure of the small cycle to enter the short position.
Today's operation ideas
Short position opportunities:
Key pressure: 3350-3360 area.
Entry conditions: The price is close to below 3350, and the top structure appears in the 5-minute cycle (such as MACD top divergence or K-line stagflation signal).
Stop loss: above 3360, target 3325-3315.
Long position opportunities:
Key support: 3320-3325 area (low long after stabilization).
Stop loss: below 3315, target 3340-3350.
Summary
Main strategy: Long position when the price stabilizes near 3320 (main), short position when the price rebounds to 3350 (auxiliary).
Key position:
Resistance: 3350-3360 → If the price breaks through, the adjustment is over and the price turns to long position.
Support: 3320-3315 → If the price breaks below, the price will return to a weak position.
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.