Gold market analysis: Risk aversion cools down, triggering a correction, bullish trend has not been broken
Core view
✅ Reasons for the sharp drop in early trading: The news of high-level talks between China and the United States eased trade tensions, and risk aversion demand weakened. Gold plunged more than $50 from a two-week high to 3377.40, a drop of 1.5%.
✅ The overall trend has not changed: Despite the short-term correction, gold prices have risen 4% this week. The daily line has a good structure of two consecutive positive lines, and the moving average golden cross supports bulls. The key support of 3325 has not been broken, and it does not constitute a reversal signal for the time being.
✅ Strong technical support:
Short-term support: 3350 (4-hour key position) → 3325 (4-hour middle track + daily moving average support)
Upward target: 3480 (previous high challenge position) → If it breaks through, it will open up new high space
Technical analysis
Daily level: bullish trend is stable
Two consecutive positive closings, prices stand firmly above the short-term moving average (5/10 days), and the moving average golden cross shows that buying momentum is still there.
The range of the correction is controllable: the sharp drop in the early trading did not touch the support of 3325, indicating that the selling pressure is mostly driven by news, not a trend reversal.
Trading strategy and operation suggestions
[Low-to-long, cautious short-selling]
Aggressive long orders:
3350-3355 light position layout, stop loss 3335, target 3400-3480.
Steady long orders:
3325-3327 enter the market in batches, stop loss 3310, target 3380-3480.
[Risk warning]
⚠ Beware of repeated news: If new conflicts are reported in the Sino-US negotiations, it may push up safe-haven buying again.
⚠ Key defensive position:
If it falls below 3310, the daily structure will weaken, and it is necessary to stop loss and wait and see.
If it breaks through 3480, you can increase your position accordingly, with a target of 3500+.
Summary
🔹 Short-term correction is a technical correction, the bullish trend is not broken, 3350-3325 is the ideal long range.
🔹 3480 is the long-short watershed, a breakthrough will confirm a new round of gains, otherwise it may continue to fluctuate.
🔹 Strict risk control: The news market fluctuates violently, it is recommended to build positions in batches with light positions to avoid unilateral bets.
Free Signals：t.me/+86i8swucTrdiYWYx
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 Signals：t.me/+86i8swucTrdiYWYx
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.