Spot gold has recently shown a high-level oscillation pattern, with alternating large positive and negative lines at the daily level, and violent fluctuations. Today, we will focus on the euro zone refinancing rate decision, and the US non-farm data will be released on Friday. In addition, we need to continue to pay attention to the impact of global tariff policies, Fed dynamics and geopolitical situations on the market.
Technical analysis
Daily level
MACD golden cross oscillates near the zero axis, and closes small positive and negative lines for two consecutive days, indicating high-level oscillation.
Key support: 3343.7 (yesterday's low) and 3333, and maintain strong oscillation before breaking.
Moving average support: MA5/MA10 (3354-3338), middle track and MA30 (3297-3304).
4-hour level
Bollinger band narrows, range compression; MACD sticks flat, and fluctuates sideways.
Resistance: 3384 (parabolic turning point), 3397 (upper track).
Support: 3364-3359 (MA10 and middle rail), 3340-3327 (MA30/MA60).
Hourly level
MACD golden cross shrinks, STO repairs downward, and there is a risk of a short-term decline.
Key support: 3364.5-3367 (middle rail and moving average adhesion), look down to 3354 after breaking.
Trading strategy
Short-term operation
Short order: 3382-3384 light position short, stop loss 3388, target 3365-3355.
Long order: 3353-3354 long, stop loss 3345, target 3365-3380.
Breakthrough strategy
If it breaks through 3390, follow up with long orders at 3382-3384, target 3410.
Short orders can be arranged in the 3410-3412 area, with a target of 3400-3390.
Risk warning
The market may remain volatile before the non-agricultural data, beware of the risk of a high-rise decline.
In the medium term, pay attention to the breakthrough of the strong resistance of 3435-3450 and the support range of 3330-3340.
Key points
Resistance: 3384-3392 → 3405-3415 → 3435-3450
Support: 3365-3355 → 3343-3333 → 3304-3297
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Free Signals:t.me/+CXftl_-QHEo2Yzc0
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.