Gold market analysis:
Yesterday's gold surged and then fell. The daily line finally closed negative, but it did not close before the previous low point, nor did it break the key support. The daily line formed a combination of one negative and one positive. The recent market is like this, ever-changing, without a fixed trend. A rebound can easily rise by 30 points. The Asian session rebounded from 3339 to 3372, easily breaking the 3363 pattern of great pressure. The daily line pattern looks like a shock and breaks 3339, which is bearish. Today's short-term thinking is to rebound first and then bearish. Yesterday's decline was too much, and a technical rebound is needed. The rebound is our opportunity to sell. In addition, the big drama is the NFP data in the evening. Before this data, the gold market will not have too much unilateral action, and the possibility of repair is greater. In addition, today is the time to close the weekly line. If nothing unexpected happens, this week will still close with a positive line, so gold will continue to be bought for a long time next week, and it will continue to rise.
The first suppression position we focus on in the Asian session is 3372, and the stronger one is around 3388-3384. These two positions are important positions in the Asian session. Gains and losses are critical. In addition, the daily line has not turned short. There is still a possibility of buying and rising again. If the buy stands above 3384, it may stabilize and rise again. If it stands above, we must adjust our thinking and buy to see new highs.
Support 3339, 3352, suppression 3372, 3388, and the strength and weakness line of the market is 3352.
Fundamental analysis:
The terrible ADP data made the market not optimistic about non-agricultural data. We estimate that today's non-agricultural data will still be relatively miserable. The market's expectations support gold and suppress the US dollar.
Operation suggestions:
Gold----Sell near 3384, target 3362-3339
Yesterday's gold surged and then fell. The daily line finally closed negative, but it did not close before the previous low point, nor did it break the key support. The daily line formed a combination of one negative and one positive. The recent market is like this, ever-changing, without a fixed trend. A rebound can easily rise by 30 points. The Asian session rebounded from 3339 to 3372, easily breaking the 3363 pattern of great pressure. The daily line pattern looks like a shock and breaks 3339, which is bearish. Today's short-term thinking is to rebound first and then bearish. Yesterday's decline was too much, and a technical rebound is needed. The rebound is our opportunity to sell. In addition, the big drama is the NFP data in the evening. Before this data, the gold market will not have too much unilateral action, and the possibility of repair is greater. In addition, today is the time to close the weekly line. If nothing unexpected happens, this week will still close with a positive line, so gold will continue to be bought for a long time next week, and it will continue to rise.
The first suppression position we focus on in the Asian session is 3372, and the stronger one is around 3388-3384. These two positions are important positions in the Asian session. Gains and losses are critical. In addition, the daily line has not turned short. There is still a possibility of buying and rising again. If the buy stands above 3384, it may stabilize and rise again. If it stands above, we must adjust our thinking and buy to see new highs.
Support 3339, 3352, suppression 3372, 3388, and the strength and weakness line of the market is 3352.
Fundamental analysis:
The terrible ADP data made the market not optimistic about non-agricultural data. We estimate that today's non-agricultural data will still be relatively miserable. The market's expectations support gold and suppress the US dollar.
Operation suggestions:
Gold----Sell near 3384, target 3362-3339
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.