Today's gold price continues to be low and bullish
News:
1: Weak dollar: The weakening of the US dollar index has increased the attractiveness of gold.
2: Geopolitical risks: The tense global situation has strengthened the safe-haven properties of gold.
3: Economic data and policies: We need to pay close attention to the European and American PMI, US employment data and speeches of Fed officials. Any dovish signals or signs of economic slowdown may further push up gold prices.
Technical analysis:
Daily level
Trend confirmation: After breaking through the $3,250 box, a shock upward pattern is formed. The three consecutive positives on the daily line firmly defend the middle track of the Bollinger Bands (near $3,300), and the next target is the upper track of the Bollinger Bands at $3,400.
Gap theory: The recent gap filling has not changed the original trend, suggesting that the upward momentum is still continuing.
4-hour level
Unilateral rising signal: Bollinger Band opening + moving average bullish arrangement, support level gradually moves up.
Key support level: $3,305 (moving average support level), strong defense level 3,285 (adjustment low on Wednesday).
Resistance level: 3350 (short-term psychological barrier), after breaking through, it may accelerate to test 3400.
Trading strategy
Entry time:
Ideal long position: 3305-3310 area (moving average support level), stop loss 3290, target 3380-3400.
If it falls below 3285, be alert to the short-term peak risk and suspend long orders.
Additional suggestions:
Before the data is released (such as the number of first-time unemployment claims, PMI, etc.), you can reduce your position to avoid volatility risks.
Pay attention to the dynamics of the G7 and the Fed's remarks. If hawkish signals are released, it may trigger a correction.
Conclusion: The short-term technical structure of gold is bullish, but be wary of data disturbances. Go long at lows near 310, strictly control risks, and target the 3400 area.
News:
1: Weak dollar: The weakening of the US dollar index has increased the attractiveness of gold.
2: Geopolitical risks: The tense global situation has strengthened the safe-haven properties of gold.
3: Economic data and policies: We need to pay close attention to the European and American PMI, US employment data and speeches of Fed officials. Any dovish signals or signs of economic slowdown may further push up gold prices.
Technical analysis:
Daily level
Trend confirmation: After breaking through the $3,250 box, a shock upward pattern is formed. The three consecutive positives on the daily line firmly defend the middle track of the Bollinger Bands (near $3,300), and the next target is the upper track of the Bollinger Bands at $3,400.
Gap theory: The recent gap filling has not changed the original trend, suggesting that the upward momentum is still continuing.
4-hour level
Unilateral rising signal: Bollinger Band opening + moving average bullish arrangement, support level gradually moves up.
Key support level: $3,305 (moving average support level), strong defense level 3,285 (adjustment low on Wednesday).
Resistance level: 3350 (short-term psychological barrier), after breaking through, it may accelerate to test 3400.
Trading strategy
Entry time:
Ideal long position: 3305-3310 area (moving average support level), stop loss 3290, target 3380-3400.
If it falls below 3285, be alert to the short-term peak risk and suspend long orders.
Additional suggestions:
Before the data is released (such as the number of first-time unemployment claims, PMI, etc.), you can reduce your position to avoid volatility risks.
Pay attention to the dynamics of the G7 and the Fed's remarks. If hawkish signals are released, it may trigger a correction.
Conclusion: The short-term technical structure of gold is bullish, but be wary of data disturbances. Go long at lows near 310, strictly control risks, and target the 3400 area.
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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.
💸Free signal：t.me/+mXGe9RqxR2QwNjdk
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.