Gold trend analysis
Updated
At the golden 4-hour level, gold is in a downward trend, and the current downward trend has not yet ended. In this process, we need to wait for a clear bottoming signal for gold and a clear stop signal before making a judgment. From the comparison of long and short volume, shorting is still the main trend, and there has been no obvious signal of change in the market. The moving average indicators show that the market is biased toward the short side, but there is still an opportunity for a rebound in the short-term structure, and the limit of this rebound is currently tentatively set at around 2050.
On the whole: today’s price remains within the 2040-2010 range for the time being. Within this range, there is no obvious directional trend, and you can choose the appropriate high altitude and low multiple. Taking the top of 2040 US dollars as the demarcation point of strength and weakness, the lower support area is 2010 US dollars, followed by 2000-1995. Operations can be considered based on the daily high and short levels. The upper pressure level focuses on 2040-2050 respectively.
On the whole: today’s price remains within the 2040-2010 range for the time being. Within this range, there is no obvious directional trend, and you can choose the appropriate high altitude and low multiple. Taking the top of 2040 US dollars as the demarcation point of strength and weakness, the lower support area is 2010 US dollars, followed by 2000-1995. Operations can be considered based on the daily high and short levels. The upper pressure level focuses on 2040-2050 respectively.
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