Affected by the escalation of global trade tensions, gold's safe-haven properties have once again become prominent. On Wednesday, gold prices rose sharply, breaking through the 3100 mark and reaching a high of 3130, indicating that market risk aversion has significantly increased. The US CPI data will be released in the evening, which is expected to cause short-term fluctuations, but the macro uncertainty caused by tariff issues still provides medium-term support for gold.
Technical Analysis
Daily level: The big positive line breaks through the middle track of the Bollinger, and the moving average system is arranged in a bullish pattern, confirming that the trend has turned from weak to strong. The current price stands above 3100, and the next target points to the previous high of 3150. If it breaks through, it will open up further upward space.
4-hour level: The Bollinger band opens and expands, and the unilateral upward momentum is strong. Short-term support focuses on 3070 (MA10 moving average and previous high conversion position), and stepping back to this position can be regarded as a long entry opportunity.
1-hour level: Short-term overbought may need to be corrected, but there is dense support in the 3060-3070 range, which resonates with the daily direction.
Operation suggestions
Direction: bullish with the trend, mainly long on pullbacks.
Entry: light long positions near 3100, if it falls back to around 3070, you can add positions.
Risk control: stop loss is uniformly set below 3060.
Target: initially look at 3150, and after breaking through, it can be held to the 3180-3200 area.
Risk warning
If the CPI data is stronger than expected, it may trigger short-term selling pressure, but the main line of risk aversion has not changed, and the probability of a deep pullback is low. Be vigilant against sudden news disturbances, and it is recommended to hold positions with stop loss protection.
Technical Analysis
Daily level: The big positive line breaks through the middle track of the Bollinger, and the moving average system is arranged in a bullish pattern, confirming that the trend has turned from weak to strong. The current price stands above 3100, and the next target points to the previous high of 3150. If it breaks through, it will open up further upward space.
4-hour level: The Bollinger band opens and expands, and the unilateral upward momentum is strong. Short-term support focuses on 3070 (MA10 moving average and previous high conversion position), and stepping back to this position can be regarded as a long entry opportunity.
1-hour level: Short-term overbought may need to be corrected, but there is dense support in the 3060-3070 range, which resonates with the daily direction.
Operation suggestions
Direction: bullish with the trend, mainly long on pullbacks.
Entry: light long positions near 3100, if it falls back to around 3070, you can add positions.
Risk control: stop loss is uniformly set below 3060.
Target: initially look at 3150, and after breaking through, it can be held to the 3180-3200 area.
Risk warning
If the CPI data is stronger than expected, it may trigger short-term selling pressure, but the main line of risk aversion has not changed, and the probability of a deep pullback is low. Be vigilant against sudden news disturbances, and it is recommended to hold positions with stop loss protection.
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.
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.