Analysis of the latest gold trend on January 21
Gold has been rising since the early Asian session today, and the high point of the European session has reached 2732. Combined with the current trend of the US dollar index, the rise of gold during the day is mainly due to the market's extreme bullish sentiment. However, this kind of extreme sentiment is not easy to control. In the future, a steady stream of bullish injections are needed for gold to remain strong. However, judging from the expectations of future fundamentals, this possibility is still relatively low, so for the current gold price If it is strong, you must still maintain a high degree of vigilance and do not blindly chase the rise.
Combined with the daily and hourly chart structures, the current gold trend is still beyond the normal operating rules, but there is also a fight around 2733 today, so we must also be wary of this pressure. The lower part of the U.S. market focuses on the competition for the 5-day line of 2710. Technically, we still hope that the market will fall back to the 5-day line and conduct a regular technical correction. Otherwise, the current emotional trend will still have a great unconventional risk.
For US market operations, it is recommended to sell short at 2730/2732, and look down to 2720 and 2712.
Trade active
Analysis of the latest trend of gold market:
Analysis of gold news: Spot gold continued to rise in the US market on Tuesday, January 21, and is currently trading around $2,744/ounce. As US President Trump did not immediately impose tariffs on Monday, the US dollar index fell 1.22%, recording the largest single-day drop in more than a year, providing support for gold prices. Secondly, Trump's nominated Secretary of Commerce Lutnick was designated as the head of trade policy. He said at a rally that he would promote foreign companies to build factories in the United States. This statement led to a general decline in the US dollar against the currencies of major trading partners. In addition, Giovanni Staunovo, an analyst at UBS Group, said that Trump's policies may lead to increased market volatility and maintain higher inflation rates for a longer period of time, which should continue to support safe-haven assets such as gold. There are relatively few economic data during the day. Pay attention to the UK employment data and Canada CPI data, pay attention to the Davos Economic Forum, and focus on the news and market interpretation of US President Trump's new policy. The trend will remain in a volatile upward trend for the time being.
Gold technical analysis: In the early morning of today in Asia, the price of gold stabilized and rebounded from above $2,700. After experiencing yesterday's market trend, the $2,700 mark was basically confirmed as effective support, that is, it retreated after being under pressure. There was no other unexpected negative event, and it was highly likely that it would not break the integer mark support again. This brewing is to prepare for another breakthrough. $2,700 is regarded as effective support, and further technical support is at $2,712. The upper pressure extension is at $2,730. In the short term, it remains strong, but it is not recommended to chase directly. Patiently wait for the entry opportunity after the retracement. The strength can be maintained and the pressure can be broken. This round of rise extends to around $2,740.
From a technical point of view, after the previous shock, gold did not break the unilateral moving average support point, so it is natural to strengthen again. If the daily Bollinger is pulled apart by this wave of rise, then this wave of gold will have another wave of rise to 2,745 highs. Therefore, gold is very strong now. If there is no obvious peak, don't guess the top when it rises. Today, the lower support is at 2700 and 2690. If there is a decline, it depends on the gains and losses of these two points. If it falls back to the key support point without breaking, you can go long. If it breaks, consider the change of strength. The performance of the short-term cycle is to be bullish but not to chase more. The US market has exceeded the previous high of 2739. It is very risky to chase more, but the decline should be paid attention to in real time.
Overall, our professional and senior gold analyst team recommends shorting at the rebound high and going long at the low level as the auxiliary. The short-term focus on the upper side is the 2745-2750 line of resistance, and the short-term focus on the lower side is the 2725-2720 line of support.Based on the above strategy, we have begun to lay out the short position at 2730-2732, and then cover the short position at 2740-2742.
Trade closed: target reached
Analysis of the latest gold market trends:
Gold technical analysis: The recent trend of gold has continued to fluctuate and rise, and the high and low points can be switched flexibly. At present, the gold price has once again refreshed the high of 2750 in early Asian trading. Gold has started a new round of rise. The daily positive line of gold closed higher, breaking the recent The upper track of 2725 in the wide range hit another high point this week. As the daily line consolidates, it rises again after pulling Yang. The daily line has further momentum to reach higher levels. Yesterday, it fell back to the lowest level of 2702 and started to rise steadily. In line with expectations of an immediate rise in the Asian market yesterday. It's just that the upside space has been increased after a direct breakthrough. Yesterday, it was also emphasized that the bulls will look further if it breaks through 2725. At the same time, when it is confirmed by stepping back, it will be a second opportunity to enter the long position. The higher closing price on the daily line will drive further short-term gains during the day.
The 4-hour chart is running in the ascending channel. In the strong unilateral market, the middle track of Bollinger Bands moves upward as the critical point for bulls. Combined with the support of breaking the high point of 2726 and the retracement of the 2716 line after breaking the high yesterday, the price started to stabilize for the second time. This is the defensive critical point of the bulls. The strong market will not be stepped on deeply, and the breaking high conversion point of the previous day will not be lost. The bulls will still maintain their momentum. From the perspective of the 1-hour structure, the bullish trend remains good, and the adjustment is also a short-term behavior. The general direction is still continuing to rise, especially after breaking through 2730 US dollars, the European session on Tuesday quickly fell back to below 2720 to complete the top and bottom conversion. The focus after today's retracement is on the position of 2738-2742, which is also the retracement of the previous high point. The European session should also pay attention to the retracement confirmation.
From the perspective of time, since the 21st trading day of gold's rebound from 2583, that is, Monday this week, the change of the market has not been successful, then the next change of the market time node will focus on next Friday, which is the 55th trading day of the rise of 2536. Therefore, in terms of operation, gold is now entering a stage of accelerated rise. Today, our professional and senior gold analyst team recommends buying with the trend near 2740, and the upper target is further up to 2765-2770 area!
Taken together, in terms of today's short-term gold operation ideas, our professional and experienced gold analyst team recommends to focus on longs on callbacks, supplemented by shorts on rebounds. The top short-term focus is on the first-line resistance near 2765, and the bottom short-term focus is on the first-line support of 2738-2742.
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