Gold overall trend analysis and trading advice!!
The upper short-term focus is on the 2800-2810 resistance range
The lower short-term focus is on the 2758-2763 support range
The current gold price continues the bullish trend. Yesterday, it rose from 2740 to 2775, and the daily line closed with a real positive line, showing strong upward momentum. Today, gold continued its upward momentum and tested the 2800 line resistance. If the price successfully breaks through this point, the upper target will further point to the 2815-2820 area, which is the top position of the current upward channel.
Daily chart: Gold maintains a strong upward trend in the upward channel, and the price rises along the upper track of the channel, showing a stable bullish structure. The daily pattern continues to be strong, and the 2800 line is a short-term key resistance area. If this position is broken, the subsequent upward space is expected to extend to 2815-2820.
4-hour chart: Gold broke through the triangle convergence range and formed a bullish arrangement, and it continues to move upward. However, as the price gradually climbed, the momentum indicator showed that the bullish force was slightly weakened, and the price upward rhythm slowed down.
1-hour chart: The hourly chart shows that after the price rose to 2770, it entered a slow upward trend. The overall structure is still bullish, but there are signs of reduced short-term momentum.
In summary, the overall trend of gold is strong, and the bullish structure remains unchanged. In terms of operation ideas, it is recommended to do more at low levels after the correction, pay attention to the upper resistance of 2800 and the test of the 2815-2820 area, to ensure follow-up and reduce the risk of correction caused by shrinking momentum.
The lower short-term focus is on the 2758-2763 support range
The current gold price continues the bullish trend. Yesterday, it rose from 2740 to 2775, and the daily line closed with a real positive line, showing strong upward momentum. Today, gold continued its upward momentum and tested the 2800 line resistance. If the price successfully breaks through this point, the upper target will further point to the 2815-2820 area, which is the top position of the current upward channel.
Daily chart: Gold maintains a strong upward trend in the upward channel, and the price rises along the upper track of the channel, showing a stable bullish structure. The daily pattern continues to be strong, and the 2800 line is a short-term key resistance area. If this position is broken, the subsequent upward space is expected to extend to 2815-2820.
4-hour chart: Gold broke through the triangle convergence range and formed a bullish arrangement, and it continues to move upward. However, as the price gradually climbed, the momentum indicator showed that the bullish force was slightly weakened, and the price upward rhythm slowed down.
1-hour chart: The hourly chart shows that after the price rose to 2770, it entered a slow upward trend. The overall structure is still bullish, but there are signs of reduced short-term momentum.
In summary, the overall trend of gold is strong, and the bullish structure remains unchanged. In terms of operation ideas, it is recommended to do more at low levels after the correction, pay attention to the upper resistance of 2800 and the test of the 2815-2820 area, to ensure follow-up and reduce the risk of correction caused by shrinking momentum.
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