✅During the U.S. trading session on Friday, gold was boosted by rising risk sentiment and short-term capital inflows, and once showed a volatile upward trend. However, the core PCE inflation data exceeded expectations and released hawkish signals, triggering the market to re-price the Fed's policy path. Gold encountered technical selling pressure after hitting key resistance, resulting in the price failing to effectively break through the previous high and form a trend continuation.
✅From the 1-hour chart, the gold price twice tested the 3086 high to form a double top embryonic form, indicating that the short-term bullish momentum is exhausted. The 3086-3090 range constitutes a strong resistance zone. If the third test fails, it may intensify the short-term counterattack. The short-term moving average system (5/20EMA) is glued near 3070. If the price loses this area, the callback expectation will be strengthened.
✅From the 30-minute chart, the double top neckline is at 3066. After breaking, the theoretical downward target points to the 3047-3050 support area. The MACD indicator shows a top divergence signal, and the fast and slow lines cross above the zero axis, suggesting a short-term correction demand.
🔴Bullish defense zone: 3047-3050 (previous band low + Fibonacci 61.8% retracement level), if it falls below, it will open the downward space to 3030 (Daily MA60).
🟢Intraday strength and weakness boundary: 3060, if it stands firm before the US market, it may continue the shock consolidation pattern.
✅Intraday trading strategy:
🔰Short strategy: The price rebounds to above 3086 and is under pressure, and the 30-minute closing bearish engulfing/K-line divergence.
🔹Entry: 3085-3088 light position short, stop loss set at 3095 (invalid if it breaks through the previous high).
🔹Target: Look down step by step from 3066→3050→3030, and track the take profit.
🔰Long strategy: Wait for the price to step back to the 3048-3050 support band, and intervene on the right side after the 1-hour RSI oversold (<30) and the positive line reverse signal.
🔰Aggressive strategy: If the price breaks through 3090 strongly and stays stable for 1 hour, you can go long with a light position, with the target at 3100-3115.
🔹Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Stay tuned🤝
✅From the 1-hour chart, the gold price twice tested the 3086 high to form a double top embryonic form, indicating that the short-term bullish momentum is exhausted. The 3086-3090 range constitutes a strong resistance zone. If the third test fails, it may intensify the short-term counterattack. The short-term moving average system (5/20EMA) is glued near 3070. If the price loses this area, the callback expectation will be strengthened.
✅From the 30-minute chart, the double top neckline is at 3066. After breaking, the theoretical downward target points to the 3047-3050 support area. The MACD indicator shows a top divergence signal, and the fast and slow lines cross above the zero axis, suggesting a short-term correction demand.
🔴Bullish defense zone: 3047-3050 (previous band low + Fibonacci 61.8% retracement level), if it falls below, it will open the downward space to 3030 (Daily MA60).
🟢Intraday strength and weakness boundary: 3060, if it stands firm before the US market, it may continue the shock consolidation pattern.
✅Intraday trading strategy:
🔰Short strategy: The price rebounds to above 3086 and is under pressure, and the 30-minute closing bearish engulfing/K-line divergence.
🔹Entry: 3085-3088 light position short, stop loss set at 3095 (invalid if it breaks through the previous high).
🔹Target: Look down step by step from 3066→3050→3030, and track the take profit.
🔰Long strategy: Wait for the price to step back to the 3048-3050 support band, and intervene on the right side after the 1-hour RSI oversold (<30) and the positive line reverse signal.
🔰Aggressive strategy: If the price breaks through 3090 strongly and stays stable for 1 hour, you can go long with a light position, with the target at 3100-3115.
🔹Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Stay tuned🤝
Trade active
✅From the 4-hour chart of gold, since the low point of 3012 stabilized, the price of gold continued to rise, showing a strong unilateral market. After being suppressed briefly at the 3086 position, a negative line was recorded, but as long as the overall trend remains strong, the negative line is likely to be a single negative adjustment. The key support needs to focus on the MA5 moving average (3070). If 3070 is lost, the MA10 moving average (3054) below will provide important support, and it is also the intraday low area.
✅The hourly chart shows that the gold price closed strongly at a high level overnight, and continued to rely on the MA10 moving average to rise, showing a pattern of forced shorting and slow rise. It fell back to around 3066 in the early morning. If the price falls back to this position on Monday, it can be considered to buy on dips. However, if the market continues to be strong, it may not give a significant opportunity for a correction.
✅In terms of resistance, 3087 is the key resistance level. After breaking through this level, it is expected to rise further by about US$10 in the short term, with the target pointing to the 3097-3100 area. However, before the effective breakthrough of 3087, it is not recommended to chase more aggressively. Aggressive traders may consider a small stop loss in this area and try to short with a light position. If the market breaks through and stabilizes above 3100, it will further open up the upside space.
✅If the high point cannot be broken during the day, the gold price may enter a high-level shock consolidation.
✅Comprehensive strategy recommendations:
Short-term operation: mainly long on pullbacks, supplemented by short on rebounds.
🔴Resistance level: focus on the 3097-3100 area. If it breaks through 3100, it is necessary to observe the stabilization situation.
🟢Support level: focus on the 3057-3060 area. If it falls below, further focus on the 3054 support.
✅Overall, the market continues to be strong, but it is still necessary to pay attention to the gains and losses of key resistance and support to determine the subsequent operation strategy.
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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.