Gold technical analysis and operation strategies
Technical analysis of gold: The gold daily line closed with a cross K-line again, and the contraction and consolidation of the fifth trading day, the daily line entered a blunted shock. And it is a consolidation correction after the big negative K-line fell, waiting for the break to open the range and move out of the direction. The recent trend of gold is consistent with the same law, with a sharp drop in the Asian session, a shock rebound in the European session, and a high fall in the US session. The overnight impact of the 2650 mark fell back as expected, and the daily line was in a weak shock after the huge negative. The weekly line 2790 evening star clearly peaked, and the monthly line closed with a negative K at a high level, successfully ending the nine consecutive positive rising pattern this year. From the perspective of wave theory, gold has now entered the main decline 3 wave stage. Combined with the weekly and monthly line trends, the decline in December is expected to continue. So today's operation is to keep a bearish view below the 2650 mark, and pay attention to the break of 2632 below. If it breaks, it will continue to test around 2620.
The downward trend line of the gold hourly chart is running, and the center of gravity is gradually moving downward. The current pressure is near 2646. Yesterday's market was able to close with a negative line, which was completely in line with technical needs, indicating that the suppression intensity in the upper 2650-60 area is very large, and the market has also returned to below the moving average band. There is a high probability that the decline will continue in the later period. Even if it is only weak fluctuations at present, if this fluctuation cycle is prolonged, it is possible to convert it into a downward relay pattern, which will still increase the possibility of returning to 2610-00 in the later period, or even breaking through and touching 2550-30.
The downward trend line of the gold hourly chart is running, and the center of gravity is gradually moving downward. The current pressure is near 2646. Yesterday's market was able to close with a negative line, which was completely in line with technical needs, indicating that the suppression intensity in the upper 2650-60 area is very large, and the market has also returned to below the moving average band. There is a high probability that the decline will continue in the later period. Even if it is only weak fluctuations at present, if this fluctuation cycle is prolonged, it is possible to convert it into a downward relay pattern, which will still increase the possibility of returning to 2610-00 in the later period, or even breaking through and touching 2550-30.
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