Analysis of gold market trend next Monday:
Gold technical analysis: Stimulated by the news, gold prices have continuously refreshed historical highs this year. As of the close of this week, gold prices have reached a high of 3357. There was a slight retracement signal after setting a historical high on Thursday, but the closing price was still above 3320. The weekly line closed with a real body longer than the upper and lower shadows, suggesting that there is a possibility of further upward movement next week. That is to say, while we are optimistic that overbought will trigger selling at the end of the week, there are also investors who continue to be optimistic about the pullback and buy into the market. So Thursday's trend is to dive from the high to 3284 and then rebound to 3327 to close. The closing price reflects that the gold price is still in a state of continued rise in the general trend.
In the short-term trend, Thursday's callback stopped at 3284, and did not reach the previous high conversion support of 3245, which we predicted. Then the support level can be moved up to 3285; as for the upper resistance, we need to pay attention to the suppression of the historical high of 3357. If the news over the weekend, especially the trade conflict and Trump's remarks, continue to stimulate the Fed to cut interest rates, then the probability of gold rising will be greatly increased. So for next week's operation, it is recommended to focus on long positions on pullbacks. As for the entry point, the first one is 3310. This is a step support level for high-level pullbacks and a retracement point during the rebound, so it can be used as an entry point to look bullish. The upper side mainly focuses on the high point suppression of 3357. If it continues to break, the upper side can continue to see the position of 3409. On the whole, it is recommended to focus on pullbacks and short positions on rebounds for the short-term operation of gold next Monday. The upper short-term focus is on the resistance line of 3357-3360, and the lower short-term focus is on the support line of 3285-3310. Friends must keep up with the rhythm.
Reference for gold operation strategy next Monday:
Strategy 1: Short gold rebounds near 3350-3360, target near 3335-3320, and look at the 3310 line after breaking.
Strategy 2: Go long on gold when it pulls back to around 3305-3310, target around 3325-3345, and look at the 3360 line if it breaks.
Gold technical analysis: Stimulated by the news, gold prices have continuously refreshed historical highs this year. As of the close of this week, gold prices have reached a high of 3357. There was a slight retracement signal after setting a historical high on Thursday, but the closing price was still above 3320. The weekly line closed with a real body longer than the upper and lower shadows, suggesting that there is a possibility of further upward movement next week. That is to say, while we are optimistic that overbought will trigger selling at the end of the week, there are also investors who continue to be optimistic about the pullback and buy into the market. So Thursday's trend is to dive from the high to 3284 and then rebound to 3327 to close. The closing price reflects that the gold price is still in a state of continued rise in the general trend.
In the short-term trend, Thursday's callback stopped at 3284, and did not reach the previous high conversion support of 3245, which we predicted. Then the support level can be moved up to 3285; as for the upper resistance, we need to pay attention to the suppression of the historical high of 3357. If the news over the weekend, especially the trade conflict and Trump's remarks, continue to stimulate the Fed to cut interest rates, then the probability of gold rising will be greatly increased. So for next week's operation, it is recommended to focus on long positions on pullbacks. As for the entry point, the first one is 3310. This is a step support level for high-level pullbacks and a retracement point during the rebound, so it can be used as an entry point to look bullish. The upper side mainly focuses on the high point suppression of 3357. If it continues to break, the upper side can continue to see the position of 3409. On the whole, it is recommended to focus on pullbacks and short positions on rebounds for the short-term operation of gold next Monday. The upper short-term focus is on the resistance line of 3357-3360, and the lower short-term focus is on the support line of 3285-3310. Friends must keep up with the rhythm.
Reference for gold operation strategy next Monday:
Strategy 1: Short gold rebounds near 3350-3360, target near 3335-3320, and look at the 3310 line after breaking.
Strategy 2: Go long on gold when it pulls back to around 3305-3310, target around 3325-3345, and look at the 3360 line if it breaks.
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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.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Join the Telegram group and start your journey of making https://money.https://t.me/TP_Dani
Related publications
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.