Gold news dominates the bull market, and technical correction needs emerge
Yesterday's market review: News stimulus drives gold to rise strongly
The gold market is driven by multiple positive factors and continues to rise strongly:
Trump's policy remarks boost risk aversion: The market's expectations of "imposing 100% tariffs on foreign films" have increased, and the geopolitical situation (Gaza war, Houthi armed harassment) has intensified risk aversion.
Key technical breakthroughs: Gold fluctuated above the 3240 support in the Asian session, and broke through the 3270-75 key level suppression (long-short dividing point in the long cycle) in the European session, confirming the bullish momentum, and the US session continued to rise to 3328. After a slight correction in the late session, it again probed 3338 and closed the day with a big positive.
Key points:
The technical buying was triggered after the 3270-75 break, and the market sentiment was strong. The US session's retracement was weak, and the high-level sideways trading showed that the bulls still dominated.
Current technical analysis: The bullish trend continues, but we need to be alert to the risk of correction
1. Daily structure: strong rise, support moves up
Moving average system: 5-day moving average (3285) and 10-day moving average (3305) constitute short-term support. If they fall back and stabilize, they can be regarded as long entry opportunities.
Suppression area: 3340-45 is the first resistance during the day, and it is expected to challenge 3360 (large cycle trend pressure) after breaking through.
Risk signal: If the daily line closes negative or falls below the 5-day moving average, a technical correction may be initiated.
2. Short-term trading logic: Pay attention to the 3325 long-short watershed
Long defensive position: 3325 (yesterday's US low point). If the white market stabilizes above this position, the low-long strategy can be continued, with a target of 3340-3360.
Risk of breakout: If it breaks below 3320, the short-term bullish momentum will be exhausted, and it may fall back to 3305-3300 (10-day moving average and psychological barrier), or even adjust further to 3285 (5-day moving average).
Operation strategy: Two-way layout under the game of news and technical aspects
Radical bullish conditions:
Entry point: 3325-3330 after stabilization, light position long, stop loss below 3320, target 3345-3360.
Conservative strategy: If it falls back to the 3305-3300 area and a stop loss signal appears (such as a K-line reversal pattern), arrange a medium-term long order.
Opportunity to short on pullback:
Trigger condition: After breaking below 3320, the rebound is under pressure, and you can short to 3305-3300, stop loss 3335.
Big cycle correction: If the daily line closes below 3285, it will confirm the technical correction, and the short target is 3250-3230.
Tracking of core influencing factors
Geopolitical risks: The situation in the Middle East and Trump's policy trends are still catalysts for short-term fluctuations.
Market sentiment switching: If risk aversion cools down, gold may quickly give up its gains.
Dollar linkage: Pay attention to the impact of US economic data and speeches by Fed officials on the US dollar index.
Summary
Gold is currently in a strong phase driven by news, but the technical side has shown signs of overbought, and we need to be vigilant about profit-taking at high levels. Intraday trading uses 3320 as the boundary between long and short, with more above and a break below to turn into a shock correction. Investors need to flexibly respond to the game between policy and technology and strictly control risks.
Key points:
Support: 3325→3305→3285
Resistance: 3345→3360→3380
Yesterday's market review: News stimulus drives gold to rise strongly
The gold market is driven by multiple positive factors and continues to rise strongly:
Trump's policy remarks boost risk aversion: The market's expectations of "imposing 100% tariffs on foreign films" have increased, and the geopolitical situation (Gaza war, Houthi armed harassment) has intensified risk aversion.
Key technical breakthroughs: Gold fluctuated above the 3240 support in the Asian session, and broke through the 3270-75 key level suppression (long-short dividing point in the long cycle) in the European session, confirming the bullish momentum, and the US session continued to rise to 3328. After a slight correction in the late session, it again probed 3338 and closed the day with a big positive.
Key points:
The technical buying was triggered after the 3270-75 break, and the market sentiment was strong. The US session's retracement was weak, and the high-level sideways trading showed that the bulls still dominated.
Current technical analysis: The bullish trend continues, but we need to be alert to the risk of correction
1. Daily structure: strong rise, support moves up
Moving average system: 5-day moving average (3285) and 10-day moving average (3305) constitute short-term support. If they fall back and stabilize, they can be regarded as long entry opportunities.
Suppression area: 3340-45 is the first resistance during the day, and it is expected to challenge 3360 (large cycle trend pressure) after breaking through.
Risk signal: If the daily line closes negative or falls below the 5-day moving average, a technical correction may be initiated.
2. Short-term trading logic: Pay attention to the 3325 long-short watershed
Long defensive position: 3325 (yesterday's US low point). If the white market stabilizes above this position, the low-long strategy can be continued, with a target of 3340-3360.
Risk of breakout: If it breaks below 3320, the short-term bullish momentum will be exhausted, and it may fall back to 3305-3300 (10-day moving average and psychological barrier), or even adjust further to 3285 (5-day moving average).
Operation strategy: Two-way layout under the game of news and technical aspects
Radical bullish conditions:
Entry point: 3325-3330 after stabilization, light position long, stop loss below 3320, target 3345-3360.
Conservative strategy: If it falls back to the 3305-3300 area and a stop loss signal appears (such as a K-line reversal pattern), arrange a medium-term long order.
Opportunity to short on pullback:
Trigger condition: After breaking below 3320, the rebound is under pressure, and you can short to 3305-3300, stop loss 3335.
Big cycle correction: If the daily line closes below 3285, it will confirm the technical correction, and the short target is 3250-3230.
Tracking of core influencing factors
Geopolitical risks: The situation in the Middle East and Trump's policy trends are still catalysts for short-term fluctuations.
Market sentiment switching: If risk aversion cools down, gold may quickly give up its gains.
Dollar linkage: Pay attention to the impact of US economic data and speeches by Fed officials on the US dollar index.
Summary
Gold is currently in a strong phase driven by news, but the technical side has shown signs of overbought, and we need to be vigilant about profit-taking at high levels. Intraday trading uses 3320 as the boundary between long and short, with more above and a break below to turn into a shock correction. Investors need to flexibly respond to the game between policy and technology and strictly control risks.
Key points:
Support: 3325→3305→3285
Resistance: 3345→3360→3380
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.