CFDs on Gold (US$ / OZ)Updated 1.17 Gold fluctuates steadily upward
Gold opened yesterday and fluctuated upward from 2694 to 2702. After that, the price fluctuated and fell to the intraday low of 2690 and then began to rebound and rise to 2711. Our 2694-95 long order was also a perfect profit stop. The US market price fell from 2711 to 2700 and then rose again to the intraday high of 2724.6 and fell back to 2714.
From yesterday's trend: 2698-2700 is the current support point, followed by 2711-12. The upper resistance is 2720-26.
Market analysis:
① The daily line closed with a positive column yesterday, combined with the indicator macd golden cross and the upward repair of sto, which means that the daily line will continue to rise. Then the long position is the current moving average MA5 near 2693. The current daily line supports the moving average MA10 and MA60 and the middle track 2677-2661-2651.
②4-hour current MACD golden cross high shrinkage, dynamic indicator STO double line adhesion downward, indicating high price fluctuations. The 4-hour is currently supported by the MA10 and parabolic turning point adhesion 2703-07 line, followed by the middle track 2690. The 4-hour is currently maintaining a range of 2726-2706.
③Hourly current Bollinger band three tracks shrinkage represents range compression. And range compression means that there will not be a big rise or fall at present. The hourly indicator MACD high dead cross volume, dynamic indicator STO hook down hovering near overbought.
In summary:
The daily line is still mainly buying on dips, and the long position is near 2693 and 2698; but the 4-hour is currently maintaining a high range of fluctuations, and the hourly line is currently shrinking, indicating fluctuations. Therefore, the price during the white session is maintained in the range of 2726-2697.
Strategy:
[1] Short around 2720-22, defend 2726.5, target 2712-2708-2700 (aggressive short around 2718)
[2] Long around 2698-2700, defend 2690, buy more at 2694-95, target 2718-2726, break through 2732-2742-48
From yesterday's trend: 2698-2700 is the current support point, followed by 2711-12. The upper resistance is 2720-26.
Market analysis:
① The daily line closed with a positive column yesterday, combined with the indicator macd golden cross and the upward repair of sto, which means that the daily line will continue to rise. Then the long position is the current moving average MA5 near 2693. The current daily line supports the moving average MA10 and MA60 and the middle track 2677-2661-2651.
②4-hour current MACD golden cross high shrinkage, dynamic indicator STO double line adhesion downward, indicating high price fluctuations. The 4-hour is currently supported by the MA10 and parabolic turning point adhesion 2703-07 line, followed by the middle track 2690. The 4-hour is currently maintaining a range of 2726-2706.
③Hourly current Bollinger band three tracks shrinkage represents range compression. And range compression means that there will not be a big rise or fall at present. The hourly indicator MACD high dead cross volume, dynamic indicator STO hook down hovering near overbought.
In summary:
The daily line is still mainly buying on dips, and the long position is near 2693 and 2698; but the 4-hour is currently maintaining a high range of fluctuations, and the hourly line is currently shrinking, indicating fluctuations. Therefore, the price during the white session is maintained in the range of 2726-2697.
Strategy:
[1] Short around 2720-22, defend 2726.5, target 2712-2708-2700 (aggressive short around 2718)
[2] Long around 2698-2700, defend 2690, buy more at 2694-95, target 2718-2726, break through 2732-2742-48
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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.