✅Judging from the recent market, the price of gold has stepped back to the 3350 line three times and quickly stabilized, while refreshing the high of 3365 and closing above 3350, which fully reflects the strong pattern of bulls. In such a strong bullish background, should the next trading idea go with the trend or think in reverse? In this regard, I think it should be weighed from the following aspects:
✅First, although the current operation of gold is likely to continue to rise, given the repeated fluctuations around 3350 before, the current high of 3365 does not rule out the possibility of a similar trend. Therefore, it is particularly important to remain cautious and respond flexibly.
✅Secondly, the recent weakening of the US dollar index has provided momentum support for gold bulls, but a comprehensive control pattern has not yet been formed. In the real bullish strong control stage, it is still necessary to wait for the gold price to achieve an effective breakthrough and stabilization above the 3400 mark before confirming the further continuation of the trend.
✅Third, the current risk aversion sentiment is relatively mild and has not become the main driving factor for the strong breakthrough of gold prices. Therefore, before there is a new risk aversion event, gold still faces certain resistance to break through 3400 in one fell swoop.
✅From a technical perspective:
🔶Weekly level: Bulls still dominate and the structure is stable.
🔶Daily level: Recently, a strong big positive line has risen, with a single-day increase of about US$78, showing a strong upward momentum. The current price is running between the upper track of the Bollinger band and the 5-day moving average. The short-term moving average system diverges upward, forming important support at 3287 and 3315 respectively. In addition, the overall technical indicators of each period show a bullish arrangement, and the daily level tends to continue the upward trend.
🔶4-hour level: After experiencing a continuous positive line rise last Friday, the gold price re-stood on the short-term moving average and drove it to continue to move upward. MACD golden cross continues and continues to increase in volume, and the Bollinger Bands open upward, indicating that the short-term bullish momentum is still sufficient and the trend has a technical basis for further upward movement.
🟢Focus on the support below: 3315-3320. Once it breaks down, you need to guard against the risk of a pullback.
🔴Focus on the upper resistance: 3370 is the initial resistance, and the strong pressure is around 3386. but given that the US market is closed, if the European session fails to effectively break through 3386, it is possible to choose a short-term short position layout.
✅The key point of long-short conversion is still in the 3380-3386 area, and short-term trading can be flexibly responded to according to the price performance in this area.
✅Since the beginning of next week coincides with the Memorial Day holiday in the United States, the US market will be closed for one day, and the volatility may be limited. Therefore, in terms of operation, more attention should be paid to the short-term short-selling opportunities brought by rhythm control and resistance suppression.
✅First, although the current operation of gold is likely to continue to rise, given the repeated fluctuations around 3350 before, the current high of 3365 does not rule out the possibility of a similar trend. Therefore, it is particularly important to remain cautious and respond flexibly.
✅Secondly, the recent weakening of the US dollar index has provided momentum support for gold bulls, but a comprehensive control pattern has not yet been formed. In the real bullish strong control stage, it is still necessary to wait for the gold price to achieve an effective breakthrough and stabilization above the 3400 mark before confirming the further continuation of the trend.
✅Third, the current risk aversion sentiment is relatively mild and has not become the main driving factor for the strong breakthrough of gold prices. Therefore, before there is a new risk aversion event, gold still faces certain resistance to break through 3400 in one fell swoop.
✅From a technical perspective:
🔶Weekly level: Bulls still dominate and the structure is stable.
🔶Daily level: Recently, a strong big positive line has risen, with a single-day increase of about US$78, showing a strong upward momentum. The current price is running between the upper track of the Bollinger band and the 5-day moving average. The short-term moving average system diverges upward, forming important support at 3287 and 3315 respectively. In addition, the overall technical indicators of each period show a bullish arrangement, and the daily level tends to continue the upward trend.
🔶4-hour level: After experiencing a continuous positive line rise last Friday, the gold price re-stood on the short-term moving average and drove it to continue to move upward. MACD golden cross continues and continues to increase in volume, and the Bollinger Bands open upward, indicating that the short-term bullish momentum is still sufficient and the trend has a technical basis for further upward movement.
🟢Focus on the support below: 3315-3320. Once it breaks down, you need to guard against the risk of a pullback.
🔴Focus on the upper resistance: 3370 is the initial resistance, and the strong pressure is around 3386. but given that the US market is closed, if the European session fails to effectively break through 3386, it is possible to choose a short-term short position layout.
✅The key point of long-short conversion is still in the 3380-3386 area, and short-term trading can be flexibly responded to according to the price performance in this area.
✅Since the beginning of next week coincides with the Memorial Day holiday in the United States, the US market will be closed for one day, and the volatility may be limited. Therefore, in terms of operation, more attention should be paid to the short-term short-selling opportunities brought by rhythm control and resistance suppression.
✅𝐃𝐚𝐢𝐥𝐲 𝟐-𝟒 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐒𝐢𝐠𝐧𝐚𝐥𝐬🔥
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
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.
✅𝐃𝐚𝐢𝐥𝐲 𝟐-𝟒 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐒𝐢𝐠𝐧𝐚𝐥𝐬🔥
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
✅𝐇𝐢𝐠𝐡 𝐀𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝟗𝟎%-𝟗𝟓% 🔥
✅𝐖𝐞𝐞𝐤𝐥𝐲 𝐲𝐢𝐞𝐥𝐝 𝟔𝟎%-𝟖𝟓%🔥
👉Free Group：t.me/+Js1lIktpZeY0ZWM9
✉️VIP Channel : t.me/Jack_blackwell
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.