Market news:
Spot gold fluctuated in early Asian trading on Monday (May 26). After US President Trump postponed his plan to impose a 50% tariff on the European Union on Sunday, US stock index futures rose strongly by more than 1% on Monday, putting international gold under slight pressure. However, surveys show that most analysts and retail investors tend to be bullish on the future of gold.Global stock markets plummeted last Friday, and the appeal of gold as a safe-haven asset increased with geopolitical and economic uncertainties. Trump once again issued a tariff threat, and coupled with the weakening of the US dollar, investors sought to hedge in gold. The price of gold rose by more than 2% last Friday, the best performance in six weeks! This week, the market will be closed on Monday due to Memorial Day. Key data include: Tuesday: April durable goods orders, May consumer confidence index, New Zealand Reserve Bank interest rate decision Wednesday: Federal Reserve May FOMC meeting minutes (pay attention to the softening signal of interest rate cut stance) Thursday: Initial jobless claims, US first quarter GDP revision, existing home sales, Friday: Core PCE price index (Fed's preferred inflation indicator)
Operation ideas:
Short-term gold 3330-3340 long, stop loss 3312, target 3350-3370;
Short-term gold 3350-3355 short, stop loss 3377, target 3320-3300;
Key points:
First support level: 3325, second support level: 3313, third support level: 3290
First resistance level: 3368, second resistance level: 3387, third resistance level: 3410
Technical review: Gold closed strongly on the weekly chart, and the daily chart formed a two-yang and one-yin multi-cannon pattern. At present, the daily chart MA10/7-day moving average keeps opening and gradually moves up to 3270/90, and the price stands above the 3300 mark Bollinger band middle track, and the MA5-day moving average moves up to 3320. The RSI indicator runs above the middle axis, and the price runs in a buy structure. The Bollinger Bands of the short-term four-hour chart and the hourly chart open upward, and the price is running in the middle and upper track of the Bollinger Bands. The MA10/7-day moving average four-hour chart remains open upward. The trading idea of the gold week at the beginning is to buy at a low price and sell at a high price. Support 3336/25. The far-end support hourly chart rising trend line 3313 and the daily chart MA7 day moving average and the Bollinger Band middle track position 3290. The upper resistance 3368/3386 far-end resistance previous high 3410/35 top and bottom conversion position.
Today's analysis:
Gold opened lower in the early trading on Monday, and the risk aversion sentiment was alleviated. Since the US market closed early today, gold may not have a large unilateral market. Today, it is still mainly selling at high prices and buying at low prices. Be flexible in operation, don't just buy or sell blindly, and adjust at any time according to the strength of the market! The 1-hour moving average of gold continues to buy, but the momentum begins to slow down, so gold may start to fluctuate. In addition, the risk aversion sentiment is relieved, so gold may start to fluctuate with a high probability. Pay attention to the suppression of last week's high point 3368 on the top, and pay attention to the support near 3313 on the bottom. Gold can be sold at a high price and bought at a low price within the range today. If the news changes and breaks through the range of fluctuations, then follow the trend.
Spot gold fluctuated in early Asian trading on Monday (May 26). After US President Trump postponed his plan to impose a 50% tariff on the European Union on Sunday, US stock index futures rose strongly by more than 1% on Monday, putting international gold under slight pressure. However, surveys show that most analysts and retail investors tend to be bullish on the future of gold.Global stock markets plummeted last Friday, and the appeal of gold as a safe-haven asset increased with geopolitical and economic uncertainties. Trump once again issued a tariff threat, and coupled with the weakening of the US dollar, investors sought to hedge in gold. The price of gold rose by more than 2% last Friday, the best performance in six weeks! This week, the market will be closed on Monday due to Memorial Day. Key data include: Tuesday: April durable goods orders, May consumer confidence index, New Zealand Reserve Bank interest rate decision Wednesday: Federal Reserve May FOMC meeting minutes (pay attention to the softening signal of interest rate cut stance) Thursday: Initial jobless claims, US first quarter GDP revision, existing home sales, Friday: Core PCE price index (Fed's preferred inflation indicator)
Operation ideas:
Short-term gold 3330-3340 long, stop loss 3312, target 3350-3370;
Short-term gold 3350-3355 short, stop loss 3377, target 3320-3300;
Key points:
First support level: 3325, second support level: 3313, third support level: 3290
First resistance level: 3368, second resistance level: 3387, third resistance level: 3410
Technical review: Gold closed strongly on the weekly chart, and the daily chart formed a two-yang and one-yin multi-cannon pattern. At present, the daily chart MA10/7-day moving average keeps opening and gradually moves up to 3270/90, and the price stands above the 3300 mark Bollinger band middle track, and the MA5-day moving average moves up to 3320. The RSI indicator runs above the middle axis, and the price runs in a buy structure. The Bollinger Bands of the short-term four-hour chart and the hourly chart open upward, and the price is running in the middle and upper track of the Bollinger Bands. The MA10/7-day moving average four-hour chart remains open upward. The trading idea of the gold week at the beginning is to buy at a low price and sell at a high price. Support 3336/25. The far-end support hourly chart rising trend line 3313 and the daily chart MA7 day moving average and the Bollinger Band middle track position 3290. The upper resistance 3368/3386 far-end resistance previous high 3410/35 top and bottom conversion position.
Today's analysis:
Gold opened lower in the early trading on Monday, and the risk aversion sentiment was alleviated. Since the US market closed early today, gold may not have a large unilateral market. Today, it is still mainly selling at high prices and buying at low prices. Be flexible in operation, don't just buy or sell blindly, and adjust at any time according to the strength of the market! The 1-hour moving average of gold continues to buy, but the momentum begins to slow down, so gold may start to fluctuate. In addition, the risk aversion sentiment is relieved, so gold may start to fluctuate with a high probability. Pay attention to the suppression of last week's high point 3368 on the top, and pay attention to the support near 3313 on the bottom. Gold can be sold at a high price and bought at a low price within the range today. If the news changes and breaks through the range of fluctuations, then follow the trend.
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We share free trading signals of various products (XAUUSD, foreign exchange, oil, BTC，ETH) every day, with high accuracy and lucrative profits.
t.me/+dP7UVQKgmFQxNWQx
t.me/+dP7UVQKgmFQxNWQx
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.