2.10 Gold Analysis: Testing 2850 Support
2.10 Gold Analysis: Testing 2850 Support
Gold showed an up-and-down trend on Friday. Although the daily line closed with a long upper shadow, the weekly line still closed positively with a long body, indicating that the overall trend is still bullish.
However, since the daily line has a long upper shadow at a high level, blindly chasing more is risky, and it is recommended to adopt a strategy of falling back and going long.
Key support and resistance levels:
Support level: 2850, 2840
Resistance level: 2874, 2886 (previous high point)
Operational suggestions:
Bull strategy: Go long near 2850, stop loss set at 2842, target 2874, 2886.
Trend judgment: Although there may be a need for adjustment and callback in the short term, the overall upward trend has not changed, and the market is expected to continue to hit new highs.
Gold showed an up-and-down trend on Friday. Although the daily line closed with a long upper shadow, the weekly line still closed positively with a long body, indicating that the overall trend is still bullish.
However, since the daily line has a long upper shadow at a high level, blindly chasing more is risky, and it is recommended to adopt a strategy of falling back and going long.
Key support and resistance levels:
Support level: 2850, 2840
Resistance level: 2874, 2886 (previous high point)
Operational suggestions:
Bull strategy: Go long near 2850, stop loss set at 2842, target 2874, 2886.
Trend judgment: Although there may be a need for adjustment and callback in the short term, the overall upward trend has not changed, and the market is expected to continue to hit new highs.
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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.