Analysis of gold price trend next week!
Market news:
The gold investment market continued its recent decline. Spot gold fell nearly 3% from Monday's record high of $2,956 to a low of $2,832, a drop of nearly 120 points and a loss of the key support of $2,860/ounce, the largest weekly drop since November last year. Although Trump reiterated that he would impose tariffs on Mexican and Canadian goods and escalate tariffs on China to 20% from March 4, the safe-haven attribute of international gold has not been recognized by the market - the strengthening of the US dollar and the surge in demand for US bonds have weakened the attractiveness of London gold prices. At the same time, the rise in global risk aversion has caused investors to sell gold, stocks and cryptocurrencies, and funds have instead poured into US Treasury bonds, a traditional safe-haven asset. The US dollar index rose this week, making gold denominated in US dollars more expensive for overseas buyers. However, as expectations of a rate cut by the Federal Reserve heat up, the long-term outlook for gold remains positive. Investors should pay close attention to changes in the global economic situation, especially the further development of the trade war and the Federal Reserve's monetary policy! In general, despite the recent correction in gold prices, the macro environment of the market still provides support for gold, especially against the backdrop of global economic uncertainty and rising inflation expectations. The bullish trend of gold may gradually resume in the coming months, and investors should be prepared in the support area to capture potential upside opportunities.
Technical review:
Gold fell straight down on Friday and was under pressure at the high of $2,884. The price of gold fell all the way and hovered around 2,830. After the big negative line at the daily level of gold, it continued to fall on Friday. After the weekly level ended like this, gold is likely to continue to fall next week. From the current market, it is expected that the daily line will record a big negative line this Friday, which forms an obvious downward signal with the middle negative line of the previous trading day. Under its influence, the current price is effectively running near the lower track of the Bollinger band, and the short-term moving average constitutes reverse resistance. In conjunction with other periodic indicators to maintain a short position arrangement, the overall downward trend of the Bollinger band has intensified, and the macd indicator continues to expand downward in a dead cross pattern, and the RSI indicator shows sufficient downward potential. Therefore, the overall daily line is still dominated by shorts! In terms of 4 hours, the continuous negative pattern not only makes the price effectively run below the lower track of the Bollinger Band, but also drives the short-term moving average to extend downward forcefully. Currently, short-term reverse resistance is formed at 2853 and 2870 respectively. In addition, other periodic indicators turn to short arrangement. The overall downward trend of the Bollinger Band has intensified, the MACD indicator has a low dead cross, and it intends to continue to increase downward. The RSI indicator also shows sufficient downward momentum. Therefore, the overall decline at the 4-hour level is expected to continue to expand.
Analysis for next week:
Gold will continue to pay attention to news changes over the weekend. If gold starts to rebound strongly on Monday next week, then gold may have another strong rise in risk aversion. However, if it quickly rises and falls, then gold may have digested the risk aversion news, and then gold may continue the downward trend after the top structure. In fact, gold has fallen by more than 120 US dollars. Even if there is no risk aversion, it is normal to rebound, but risk aversion may increase the amplitude of the rebound. The 1-hour moving average of gold is still a short arrangement with a golden cross downward. The gold short may not have turned around. As long as the rebound of gold is not large, there is still room for gold to go down. Next week, gold will focus on the resistance near the moving average of 2875. As long as it is still under pressure and blocked below 2875, gold can continue to be short. If gold breaks through 2880 strongly, then it is necessary to adjust the thinking. Pay attention to news changes over the weekend, and we will make further analysis on Monday morning. Operation suggestion: Keep a high-altitude thinking. It is recommended to pay attention to the short-term resistance near 2875. Below this level, the bears can test new lows. If the bulls return, it will be considered as a continuation of the shock. At that time, we will focus on the 2890 area. Below this level, we can continue to arrange short orders. For support, pay attention to the 2832-2830 area. Although this area does not show strong support momentum, it can be regarded as the limit of the intraday decline. Therefore, if it is touched, you can try short-term long!
Operation ideas:
Short-term gold 2837-2840 buy, stop loss 2829, target 2870-2880;
Short-term gold 2873-2875 sell, stop loss 2884, target 2840-2830;
Key points:
First support level: 2843, second support level: 2832, third support level: 2818
First resistance level: 2866, second resistance level: 2875, third resistance level: 2890
The gold investment market continued its recent decline. Spot gold fell nearly 3% from Monday's record high of $2,956 to a low of $2,832, a drop of nearly 120 points and a loss of the key support of $2,860/ounce, the largest weekly drop since November last year. Although Trump reiterated that he would impose tariffs on Mexican and Canadian goods and escalate tariffs on China to 20% from March 4, the safe-haven attribute of international gold has not been recognized by the market - the strengthening of the US dollar and the surge in demand for US bonds have weakened the attractiveness of London gold prices. At the same time, the rise in global risk aversion has caused investors to sell gold, stocks and cryptocurrencies, and funds have instead poured into US Treasury bonds, a traditional safe-haven asset. The US dollar index rose this week, making gold denominated in US dollars more expensive for overseas buyers. However, as expectations of a rate cut by the Federal Reserve heat up, the long-term outlook for gold remains positive. Investors should pay close attention to changes in the global economic situation, especially the further development of the trade war and the Federal Reserve's monetary policy! In general, despite the recent correction in gold prices, the macro environment of the market still provides support for gold, especially against the backdrop of global economic uncertainty and rising inflation expectations. The bullish trend of gold may gradually resume in the coming months, and investors should be prepared in the support area to capture potential upside opportunities.
Technical review:
Gold fell straight down on Friday and was under pressure at the high of $2,884. The price of gold fell all the way and hovered around 2,830. After the big negative line at the daily level of gold, it continued to fall on Friday. After the weekly level ended like this, gold is likely to continue to fall next week. From the current market, it is expected that the daily line will record a big negative line this Friday, which forms an obvious downward signal with the middle negative line of the previous trading day. Under its influence, the current price is effectively running near the lower track of the Bollinger band, and the short-term moving average constitutes reverse resistance. In conjunction with other periodic indicators to maintain a short position arrangement, the overall downward trend of the Bollinger band has intensified, and the macd indicator continues to expand downward in a dead cross pattern, and the RSI indicator shows sufficient downward potential. Therefore, the overall daily line is still dominated by shorts! In terms of 4 hours, the continuous negative pattern not only makes the price effectively run below the lower track of the Bollinger Band, but also drives the short-term moving average to extend downward forcefully. Currently, short-term reverse resistance is formed at 2853 and 2870 respectively. In addition, other periodic indicators turn to short arrangement. The overall downward trend of the Bollinger Band has intensified, the MACD indicator has a low dead cross, and it intends to continue to increase downward. The RSI indicator also shows sufficient downward momentum. Therefore, the overall decline at the 4-hour level is expected to continue to expand.
Analysis for next week:
Gold will continue to pay attention to news changes over the weekend. If gold starts to rebound strongly on Monday next week, then gold may have another strong rise in risk aversion. However, if it quickly rises and falls, then gold may have digested the risk aversion news, and then gold may continue the downward trend after the top structure. In fact, gold has fallen by more than 120 US dollars. Even if there is no risk aversion, it is normal to rebound, but risk aversion may increase the amplitude of the rebound. The 1-hour moving average of gold is still a short arrangement with a golden cross downward. The gold short may not have turned around. As long as the rebound of gold is not large, there is still room for gold to go down. Next week, gold will focus on the resistance near the moving average of 2875. As long as it is still under pressure and blocked below 2875, gold can continue to be short. If gold breaks through 2880 strongly, then it is necessary to adjust the thinking. Pay attention to news changes over the weekend, and we will make further analysis on Monday morning. Operation suggestion: Keep a high-altitude thinking. It is recommended to pay attention to the short-term resistance near 2875. Below this level, the bears can test new lows. If the bulls return, it will be considered as a continuation of the shock. At that time, we will focus on the 2890 area. Below this level, we can continue to arrange short orders. For support, pay attention to the 2832-2830 area. Although this area does not show strong support momentum, it can be regarded as the limit of the intraday decline. Therefore, if it is touched, you can try short-term long!
Operation ideas:
Short-term gold 2837-2840 buy, stop loss 2829, target 2870-2880;
Short-term gold 2873-2875 sell, stop loss 2884, target 2840-2830;
Key points:
First support level: 2843, second support level: 2832, third support level: 2818
First resistance level: 2866, second resistance level: 2875, third resistance level: 2890
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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.
Share free trading signals every day, with an accuracy rate of up to 98% and a return rate of over 200%. Please click me to get it
t.me/+T3KTC22K-2BlZmNh
t.me/+T3KTC22K-2BlZmNh
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.