5.26 Gold Analysis: Go long at low prices
Daily level:
Gold price has repeatedly failed to break through $3,370, indicating that there is strong resistance and selling pressure above, and the upward channel is blocked. If gold price continues to fail to break through, it may turn to a correction.
4-hour chart:
MACD: Death cross is formed but the green column is shortened, the short-selling momentum is weakened, and there is a possibility of bottom divergence.
RSI: Rebounded from the oversold area (below 30) to 36, suggesting that there is a need for oversold repair in the short term, but it has not yet entered the neutral area, and the strength of the rebound remains to be seen.
Short-term trend: After filling the gap in the Asian session, it fell under pressure, and broke the bottom in the European session but was accompanied by indicator divergence. Short-term may enter the repair stage, and attention should be paid to the direction selection after adjustment.
Key positions:
Support level: 3320-3322 (key support level during the day), 3306 (short-term psychological level), 3300 (strong support level).
Resistance: 3345 (initial pressure), 3365 (upward space may be opened after breaking through), 3370-3380 (strong resistance area).
Operation suggestions
Short-term long orders (light positions):
Entry point: 3330-3335 area, bullish rebound near the support level.
Stop loss: 3315
Target: 3360+
Logic: indicator divergence repair + support level resonance, low liquidity during the US stock market holiday, volatility may be limited.
Risk warning
The US market is closed: reduced liquidity may lead to irregular price fluctuations, and short-term transactions need to reduce positions.
Future outlook
Short-term: 3300-3365 range oscillation, pay attention to the breakthrough direction. If 3300 is maintained, it may continue to rebound and test 3365; if it falls below, it will open up to 3250.
Daily level:
Gold price has repeatedly failed to break through $3,370, indicating that there is strong resistance and selling pressure above, and the upward channel is blocked. If gold price continues to fail to break through, it may turn to a correction.
4-hour chart:
MACD: Death cross is formed but the green column is shortened, the short-selling momentum is weakened, and there is a possibility of bottom divergence.
RSI: Rebounded from the oversold area (below 30) to 36, suggesting that there is a need for oversold repair in the short term, but it has not yet entered the neutral area, and the strength of the rebound remains to be seen.
Short-term trend: After filling the gap in the Asian session, it fell under pressure, and broke the bottom in the European session but was accompanied by indicator divergence. Short-term may enter the repair stage, and attention should be paid to the direction selection after adjustment.
Key positions:
Support level: 3320-3322 (key support level during the day), 3306 (short-term psychological level), 3300 (strong support level).
Resistance: 3345 (initial pressure), 3365 (upward space may be opened after breaking through), 3370-3380 (strong resistance area).
Operation suggestions
Short-term long orders (light positions):
Entry point: 3330-3335 area, bullish rebound near the support level.
Stop loss: 3315
Target: 3360+
Logic: indicator divergence repair + support level resonance, low liquidity during the US stock market holiday, volatility may be limited.
Risk warning
The US market is closed: reduced liquidity may lead to irregular price fluctuations, and short-term transactions need to reduce positions.
Future outlook
Short-term: 3300-3365 range oscillation, pay attention to the breakthrough direction. If 3300 is maintained, it may continue to rebound and test 3365; if it falls below, it will open up to 3250.
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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.