The short-term market is still affected by geopolitical factors, the easing of the Russian-Ukrainian war, and the consensus reached between Trump and China on the tariff war. These factors are all bearish for gold. Gold has fallen rapidly in the short term and continued to fall yesterday. Yesterday's decline was more than one hundred US dollars, which has changed the short-term upward trend. It will still be the main market for bears in the future. The downward trend of gold prices since 3439 is still continuing. If it falls below the previous low, that is, 3200, the decline will be further expanded and will run towards the target of 2909 in our previous analysis. Everyone can pay attention to this. Gold opened low and went low this week, and it rebounded near the previous low. Now at the four-hour level, a downward trend channel is formed from 3500 to 3440. The current support below the gold price is near 3164. This is the condition that it can fall below the previous low of 3200 before it can continue to push down.
Rebound means short, short-term pressure level focuses on the high point of 3265 as the watershed of strength and weakness. Gold failed to stand on 3265 in the short term, which means that the market is still in the rhythm of short-selling. Our layout during the day is also based on 3265. When the rebound reaches the top near the pressure level, we boldly short! In view of the release of CPI data in the US market, the current volatility of gold prices has slowed down, so it is recommended to keep an eye on it first. If the gold price touches 3270 after the release of the US market data, you can start to arrange short orders to look down at the key support position of 3200. After breaking the position, you can continue to look at the lower track of the downward channel analyzed in the morning near 3160. On the whole, today's short-term operation strategy for gold is to focus on rebound shorting and callback longing. The short-term focus on the upper side is 3265-3270 resistance, and the short-term focus on the lower side is 3200-3160 support. Friends must keep up with the rhythm.
Short order strategy:
Strategy 1: Short (buy short) 20% of the position in batches around 3265-3270 in the early trading of gold, stop loss 10 points, target around 3230-3210, break the position and look at the 3200 line
Long order strategy:
Strategy 2: When gold falls back to around 3200-3205, buy long positions in batches (buy up) of 20% of the position, stop loss 10 points, target around 3230-3250, break the position and look at 3290
Rebound means short, short-term pressure level focuses on the high point of 3265 as the watershed of strength and weakness. Gold failed to stand on 3265 in the short term, which means that the market is still in the rhythm of short-selling. Our layout during the day is also based on 3265. When the rebound reaches the top near the pressure level, we boldly short! In view of the release of CPI data in the US market, the current volatility of gold prices has slowed down, so it is recommended to keep an eye on it first. If the gold price touches 3270 after the release of the US market data, you can start to arrange short orders to look down at the key support position of 3200. After breaking the position, you can continue to look at the lower track of the downward channel analyzed in the morning near 3160. On the whole, today's short-term operation strategy for gold is to focus on rebound shorting and callback longing. The short-term focus on the upper side is 3265-3270 resistance, and the short-term focus on the lower side is 3200-3160 support. Friends must keep up with the rhythm.
Short order strategy:
Strategy 1: Short (buy short) 20% of the position in batches around 3265-3270 in the early trading of gold, stop loss 10 points, target around 3230-3210, break the position and look at the 3200 line
Long order strategy:
Strategy 2: When gold falls back to around 3200-3205, buy long positions in batches (buy up) of 20% of the position, stop loss 10 points, target around 3230-3250, break the position and look at 3290
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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.
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.