On the monthly chart, gold price closed in a cross pattern, which is the first time after a sharp rise, suggesting a fierce confrontation between long and short forces, and a strong wait-and-see sentiment in the market. This pattern may indicate that the market has entered an adjustment or relay stage. Given the large increase in the previous period, a correction is possible, but it cannot be asserted that the trend has reversed. In the daily chart, the Bollinger Bands slightly opened, the moving average golden cross, and the short moving average continued to move up after the big sun, indicating that the long adjustment may have been completed and the unilateral market is about to start. The four-hour chart shows a perfect long arrangement, with the bulls in the lead. The MACD indicator is waiting for an effective golden cross, and the market outlook is expected to continue to rise. At present, the upper resistance is 3388-3392, and the lower support is 3351-3347. In terms of operation, Xu Gucheng recommends rebounding shorts as the main, and callbacks as the auxiliary.
Operation strategy 1: It is recommended to rebound 3388-3394 shorts, stop loss 3400, and the target is 3360-3350.
Operation strategy 2: It is recommended to buy on the pullback to 3353-3347, with a stop loss at 3344, and the target is 3380-3400.
Operation strategy 1: It is recommended to rebound 3388-3394 shorts, stop loss 3400, and the target is 3360-3350.
Operation strategy 2: It is recommended to buy on the pullback to 3353-3347, with a stop loss at 3344, and the target is 3380-3400.
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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.