Analysis of gold trend:（2080-3050）
In the early Asian session on Monday (April 7), spot gold continued to fall, once losing the 3000 integer mark, and refreshed the low since March 13 to 2976.97.
Affected by the rising concerns about international trade, US stock index futures continued to fall sharply, and the stock markets of Japan, Australia and New Zealand also followed the decline. Investors continue to sell gold to make up for the losses caused by the plunge in the market.
The current geopolitical situation is still in a state of easing or uncertainty, and the negative or positive effects on gold prices will be limited; Trump’s tariff policy has been fully implemented, and the positive factors have weakened; in addition, the Federal Reserve still said that it is not in a hurry to cut interest rates, which also weakened the bullish momentum of gold prices.
From a technical perspective:
The decline in gold did not continue. The market digested it after the opening, and there is room for a substantial increase. The current highest is 3055, an increase of 85 US dollars across the board.
This wave of decline may stop at the current 2970, and the rise can still see the previous high of 3150. Therefore, in this week's gold trading, the bullish trend is maintained, with 3150 as the target.
4-hour cycle:
After a low rebound, today's bottoming performance has also appeared, and the next wave can be seen at 3100-3150.
Today's strategy: Find key support points to go long:
Key support: 2970-2980
Current support: 3010-3015
Current resistance: 3055-3060
Key resistance: 3100-3150
Try to go long at a low price.
Note: At present, the volatility is severe, and the difficulty of conventional 5-10 point stop loss transactions has increased significantly, and the position ratio should be reasonably controlled.
In the early Asian session on Monday (April 7), spot gold continued to fall, once losing the 3000 integer mark, and refreshed the low since March 13 to 2976.97.
Affected by the rising concerns about international trade, US stock index futures continued to fall sharply, and the stock markets of Japan, Australia and New Zealand also followed the decline. Investors continue to sell gold to make up for the losses caused by the plunge in the market.
The current geopolitical situation is still in a state of easing or uncertainty, and the negative or positive effects on gold prices will be limited; Trump’s tariff policy has been fully implemented, and the positive factors have weakened; in addition, the Federal Reserve still said that it is not in a hurry to cut interest rates, which also weakened the bullish momentum of gold prices.
From a technical perspective:
The decline in gold did not continue. The market digested it after the opening, and there is room for a substantial increase. The current highest is 3055, an increase of 85 US dollars across the board.
This wave of decline may stop at the current 2970, and the rise can still see the previous high of 3150. Therefore, in this week's gold trading, the bullish trend is maintained, with 3150 as the target.
4-hour cycle:
After a low rebound, today's bottoming performance has also appeared, and the next wave can be seen at 3100-3150.
Today's strategy: Find key support points to go long:
Key support: 2970-2980
Current support: 3010-3015
Current resistance: 3055-3060
Key resistance: 3100-3150
Try to go long at a low price.
Note: At present, the volatility is severe, and the difficulty of conventional 5-10 point stop loss transactions has increased significantly, and the position ratio should be reasonably controlled.
Trade active
2980-3050
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.