Gold market analysis:
Recently, the daily gold trading has begun to be a game. Today's idea is to continue buying and looking for buying opportunities. At present, it is an obvious shock rise, not a direct one-sided one. Don't rush to enter the warehouse. Yesterday, the daily line closed positive, and the short-term 3392 was suppressed. The daily moving average began to diverge. There is not much time for high-level shocks. The shock is mainly because this week is a data week. The market has too many uncertainties about the future. For example, yesterday's ADP employment data is like this. There is a more heavy NFP later. I estimate that the shock market will continue before the non-agricultural data. Today, we focus on the opportunity of shock retracement and continue to buy.
The analysis chart shows that the hourly shock range is 3392-3342. Yesterday's daily closing raised the shock platform. Today, we focus on the support of two shock platforms. One is around 3363, which is an hourly shock, and the other is 3354. This position is the moving average and pattern support. These two supports in the Asian session are both buying opportunities. In addition, if it breaks 3392, it may stand on 3400 and start a new bullish pull.
Support 3363, 3354, strong support 3343, suppression 3385, strong pressure 3392, the market strength and weakness watershed 3363.
Fundamental analysis:
The US ADP employment data released this time showed a significant reduction in employment, supporting gold to suppress the US dollar, and also giving the US market a new expectation for non-agricultural.
Operation suggestion:
Gold------Buy near 3360-3380, target 3390-3400
Recently, the daily gold trading has begun to be a game. Today's idea is to continue buying and looking for buying opportunities. At present, it is an obvious shock rise, not a direct one-sided one. Don't rush to enter the warehouse. Yesterday, the daily line closed positive, and the short-term 3392 was suppressed. The daily moving average began to diverge. There is not much time for high-level shocks. The shock is mainly because this week is a data week. The market has too many uncertainties about the future. For example, yesterday's ADP employment data is like this. There is a more heavy NFP later. I estimate that the shock market will continue before the non-agricultural data. Today, we focus on the opportunity of shock retracement and continue to buy.
The analysis chart shows that the hourly shock range is 3392-3342. Yesterday's daily closing raised the shock platform. Today, we focus on the support of two shock platforms. One is around 3363, which is an hourly shock, and the other is 3354. This position is the moving average and pattern support. These two supports in the Asian session are both buying opportunities. In addition, if it breaks 3392, it may stand on 3400 and start a new bullish pull.
Support 3363, 3354, strong support 3343, suppression 3385, strong pressure 3392, the market strength and weakness watershed 3363.
Fundamental analysis:
The US ADP employment data released this time showed a significant reduction in employment, supporting gold to suppress the US dollar, and also giving the US market a new expectation for non-agricultural.
Operation suggestion:
Gold------Buy near 3360-3380, target 3390-3400
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.