✅From the 4-hour chart of gold, since the low point of 3012 stabilized, the price of gold continued to rise, showing a strong unilateral market. After being suppressed briefly at the 3086 position, a negative line was recorded, but as long as the overall trend remains strong, the negative line is likely to be a single negative adjustment. The key support needs to focus on the MA5 moving average (3070). If 3070 is lost, the MA10 moving average (3054) below will provide important support, and it is also the intraday low area.
✅The hourly chart shows that the gold price closed strongly at a high level overnight, and continued to rely on the MA10 moving average to rise, showing a pattern of forced shorting and slow rise. The price fell back to around 3066 in late trading.. If the price falls back to this position on Monday, it can be considered to buy on dips. However, if the market continues to be strong, it may not give a significant opportunity for a correction.
✅In terms of resistance, 3087 is the key resistance level. After breaking through this level, it is expected to rise further by about 10-15$ in the short term, with the target pointing to the 3097-3100 area. However, before the effective breakthrough of 3087, it is not recommended to chase more aggressively. Aggressive traders may consider a small stop loss in this area and try to short with a light position. If the market breaks through and stabilizes above 3100, it will further open up the upside space. If the high point cannot be broken during the day, the gold price may enter a high-level shock consolidation.
🔴Resistance level:
🔹Primary resistance: 3087 (previous high )
🔹Breakthrough target: 3098 (the upper track projection level of the weekly downward channel)
🔹Ultimate Resistance: 3106 (Pivot R3 Position of the Year)
🟢Support level:
🔸Intraday defense: 3066 (H1 long and short watershed)
🔸Secondary support: 3054 (4H EMA10 )
🔸Trend reversal level: below 3040 (weekly opening price )
✅Overall, the market continues to be strong, but it is still necessary to pay attention to the gains and losses of key resistance and support to determine the subsequent operation strategy.
✅The hourly chart shows that the gold price closed strongly at a high level overnight, and continued to rely on the MA10 moving average to rise, showing a pattern of forced shorting and slow rise. The price fell back to around 3066 in late trading.. If the price falls back to this position on Monday, it can be considered to buy on dips. However, if the market continues to be strong, it may not give a significant opportunity for a correction.
✅In terms of resistance, 3087 is the key resistance level. After breaking through this level, it is expected to rise further by about 10-15$ in the short term, with the target pointing to the 3097-3100 area. However, before the effective breakthrough of 3087, it is not recommended to chase more aggressively. Aggressive traders may consider a small stop loss in this area and try to short with a light position. If the market breaks through and stabilizes above 3100, it will further open up the upside space. If the high point cannot be broken during the day, the gold price may enter a high-level shock consolidation.
🔴Resistance level:
🔹Primary resistance: 3087 (previous high )
🔹Breakthrough target: 3098 (the upper track projection level of the weekly downward channel)
🔹Ultimate Resistance: 3106 (Pivot R3 Position of the Year)
🟢Support level:
🔸Intraday defense: 3066 (H1 long and short watershed)
🔸Secondary support: 3054 (4H EMA10 )
🔸Trend reversal level: below 3040 (weekly opening price )
✅Overall, the market continues to be strong, but it is still necessary to pay attention to the gains and losses of key resistance and support to determine the subsequent operation strategy.
Trade active
✅Intraday trading strategy🔰Aggressive long orders: build positions in batches in the 3065-3072 range, stop loss below 3059
🔰Conservative long orders: place a breakout and retracement order near 3054, stop loss 3047
🔹Target setting step by step: 3082→3095→3103
🔰Counter-trend short: try shorting with a light position in the 3085-3090 area, stop loss 3101
🔰Breakout and cover strategy: if it effectively stands above 3100, then retrace to 3092 and go long
🔹Target setting: 3078→3063
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.
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.