Looking back at the trend of last Friday, gold showed a fluctuating upward trend driven by three consecutive big positive lines. Affected by the escalation of the tariff war, the bullish momentum is still strong. Every time the European and American markets fall back to around 3210, there is a support rebound. In the late trading, gold fell back to around 3220, showing that the market fluctuated greatly in the short term. The fluctuation range from Wednesday to Friday last week was close to 300 points, and the gold price has repeatedly refreshed its historical highs this year, which is in line with the characteristics of the bull market, and is supported by the global economic downturn and the rising demand for risk aversion. The expectation of the Fed's interest rate cut also provides support for the gold price.
From the current market situation, the weekly line closed with a big positive line. In the short term, the bulls still dominate, but the possibility of a surge is not great, and the market may undergo some technical repairs. The daily chart shows three consecutive positive lines, but the early trading opened low and went low, and the price was still suppressed by the aforementioned suppression level. The current support level is still around 3210. If this point breaks, shorts may gradually form and the market sentiment will change. Therefore, today's strategy is still based on high-altitude, especially the two suppression levels of 3237 and 3245 are worth paying attention to.
From the trend chart, the rebound high point of last Friday's late trading moved down, indicating that prices may continue to adjust in the short term, and technical repair is inevitable, but this will not happen quickly. Therefore, if market news cools down and technical repairs are made this week, gold prices may usher in a larger correction. Overall, 3237 and 3245 are still key short-selling points. If the price breaks through 3250, it may form greater downward pressure.
Regarding silver, it is still in the low-level stabilization stage of the large cycle. There may be a repair rebound in the short term, but the overall trend is still biased downward. It is expected that the silver market will have a greater risk of correction this week, and it is not clear when it will fall.
Gold operation strategy:
The Asian session opened low and moved low, and long opportunities can be found at the support level near 3210, with the goal of repairing the gap.
Early trading range: 3215-20 can be used as a buying range, and long positions can be appropriately intervened.
Pay attention to the two suppression levels of 3237 and 3245 for short positions. When the rebound is strong, you can enter the short position at the right time.
If the price reaches around 3250, you can consider long-term short positions, with a target of 50-80 points and a stop loss at 3263.
In the short term, the gold market is volatile, and you need to flexibly adjust your strategy when operating, paying attention to the repair of the technical aspects and the performance of important support and suppression levels.
From the current market situation, the weekly line closed with a big positive line. In the short term, the bulls still dominate, but the possibility of a surge is not great, and the market may undergo some technical repairs. The daily chart shows three consecutive positive lines, but the early trading opened low and went low, and the price was still suppressed by the aforementioned suppression level. The current support level is still around 3210. If this point breaks, shorts may gradually form and the market sentiment will change. Therefore, today's strategy is still based on high-altitude, especially the two suppression levels of 3237 and 3245 are worth paying attention to.
From the trend chart, the rebound high point of last Friday's late trading moved down, indicating that prices may continue to adjust in the short term, and technical repair is inevitable, but this will not happen quickly. Therefore, if market news cools down and technical repairs are made this week, gold prices may usher in a larger correction. Overall, 3237 and 3245 are still key short-selling points. If the price breaks through 3250, it may form greater downward pressure.
Regarding silver, it is still in the low-level stabilization stage of the large cycle. There may be a repair rebound in the short term, but the overall trend is still biased downward. It is expected that the silver market will have a greater risk of correction this week, and it is not clear when it will fall.
Gold operation strategy:
The Asian session opened low and moved low, and long opportunities can be found at the support level near 3210, with the goal of repairing the gap.
Early trading range: 3215-20 can be used as a buying range, and long positions can be appropriately intervened.
Pay attention to the two suppression levels of 3237 and 3245 for short positions. When the rebound is strong, you can enter the short position at the right time.
If the price reaches around 3250, you can consider long-term short positions, with a target of 50-80 points and a stop loss at 3263.
In the short term, the gold market is volatile, and you need to flexibly adjust your strategy when operating, paying attention to the repair of the technical aspects and the performance of important support and suppression levels.
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.