Following the closing of the DOJI, gold maintained a strong rise on Friday and touched the 1855 line. It can be seen that the gold price has continued its strong rebound pattern since 1806, and with the support of the 5-day and 10-day moving average, it gives the market the possibility that gold will continue to rise in the future. The technical indicator MACD is about to form a golden fork, and the upward momentum bar has just emerged, so it is likely that the upward trend of volatility will continue next week.
However, overall, since the market is currently waiting for next week's non-farm payrolls data and the Fed's attitude towards raising interest rates, even if gold prices rebound, the room for rebound will still be limited.
Judging from the 2-hour chart, the gold trend is too volatile, and the MACD shows that the kinetic energy is too strong. There is still momentum to rise in the short term, but the top is about to face resistance from the 1865 line, so the higher the gold price in the short term, the greater the pressure it will face. It is not ruled out that there will be a rhythm of volatility and decline in the market; However, in the current form, the main one is the bullish upward trend, and the pullback is relatively small, while the 1850 line below is the key support in the short term, so the current market trend is biased towards long-term operation.
In terms of operation, it is mainly based on long positions at the low level. You can consider going long at the 1850 line; you can try to go short near 1865 for the first time.
The above views are for reference only, please continue to pay attention to my analysis and sharing, I will bring you a more perfect presentation; click the network button below, everyone is welcome to come and discuss together
However, overall, since the market is currently waiting for next week's non-farm payrolls data and the Fed's attitude towards raising interest rates, even if gold prices rebound, the room for rebound will still be limited.
Judging from the 2-hour chart, the gold trend is too volatile, and the MACD shows that the kinetic energy is too strong. There is still momentum to rise in the short term, but the top is about to face resistance from the 1865 line, so the higher the gold price in the short term, the greater the pressure it will face. It is not ruled out that there will be a rhythm of volatility and decline in the market; However, in the current form, the main one is the bullish upward trend, and the pullback is relatively small, while the 1850 line below is the key support in the short term, so the current market trend is biased towards long-term operation.
In terms of operation, it is mainly based on long positions at the low level. You can consider going long at the 1850 line; you can try to go short near 1865 for the first time.
The above views are for reference only, please continue to pay attention to my analysis and sharing, I will bring you a more perfect presentation; click the network button below, everyone is welcome to come and discuss together
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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.