Analysis of gold operation strategy next week

Recently, the U.S. dollar index has continued to strengthen, rising for several consecutive weeks, putting pressure on gold prices. If the US dollar index continues to remain strong, gold prices may be further suppressed. However, we also need to pay attention to the fluctuations of the U.S. dollar index. Once it pulls back, gold prices are expected to get a chance to rebound. Although the US dollar and US bond yields pose downward pressure, the continued escalation of geopolitical tensions provides safe-haven support for gold. Conflicts in the Middle East and turmoil in the Russian-Ukrainian situation may trigger risk aversion in the market, thereby pushing up gold prices. In addition, the state of the US economy will also have an impact on gold prices. Recently, the U.S. economy has shown strong resilience, but there is still uncertainty about its future direction. The international gold trend next week may show a volatile trend, which is jointly affected by the U.S. dollar index, geopolitical situation and U.S. economic conditions. Investors need to pay close attention to the changes in these factors in order to grasp the trend of gold prices. At the same time, it is also necessary to pay attention to risk management and avoid blindly following the trend.

Gold technical analysis: Next week will usher in the final battle between the annual and monthly lines. From the perspective of the annual line, the overall bull market is still there, the general trend is still bullish, and there is no trend reversal, just a temporary pause. In terms of the monthly line, the overall structure is bullish, but the monthly K line is currently in a continuous negative pattern, which is beneficial to the bears. In addition, the short-term 5-day moving average of the monthly line shows signs of turning. Although the bulls are dominant, we must also pay attention to the downward retracement strength. In terms of the weekly line, the weekly line received a small cross positive. If we only look at the rebound strength, the upward momentum is obviously insufficient. In addition, the overall technical pattern shows that the bears have the conditions to break the support and extend.

The gold hourly line is still oscillating within a large range. If gold rebounds first at the opening of next Monday, and if it continues to be under pressure at 2640, then gold will continue to sell short on rallies under pressure at 2640. Gold bulls have not shown full strength, and they have risen many times. After falling back, gold is not very confident in its upward breakthrough. It keeps making false breakthroughs, and then lures the bulls to fall again.

Judging from the 4-hour analysis, the lower support focuses on the 2600 integer mark, and the upper short-term pressure focuses on the vicinity of 2640. The overall tone of high short-selling participation remains unchanged based on this range, and the middle position is cautious to pursue orders, and patiently waits for the key point to enter the market.

Gold operation strategy:
1. Gold rebounds and sells short at the 2637-2640 line, stop loss at 2649, target the 2610 line, and look at the 2598-2600 line if the position is broken;

Trade active

The negative line closed last Friday is very critical. It pierced the 5-day line and the 10-day line in one fell swoop, almost completely swallowing up the positive line last Thursday. This kind of negative-enclosing-positive K-line pattern is a strong signal in technical analysis. It clearly shows that the short-term bullish momentum is extremely weak, and the trend of the market turning down again is becoming more and more obvious. Based on this, the gold market is likely to further expand the downward space this week. Investors can first focus on the long and short competition in the 2610-2600 area. If the market continues to fluctuate within a narrow range above 2600 this week, and the price gradually moves closer to 2600, then judging from the trend, gold is very likely to retreat to the 2580-2570 and 2550-2530 areas again in the later period.

From a technical perspective, as long as the 2640 position of the 20-day line above is not effectively broken through, the overall structure of the gold market will still be biased towards the short side. This is like a tug-of-war game, with the bears holding the rope tightly. As long as the bulls fail to break through the key defense line, the bears will have a relative advantage. Combined with the hourly chart trend, the price of gold fell below 2620 last Friday night. Although it rose back above this price in late trading, the space above for it to continue to rebound is very limited. In terms of operations this week, the top can first focus on the short-term pressure level near 2630, and the strong pressure level will focus on the 2640 line. According to the current market situation, it is very likely that gold will come under pressure in the 2635-2630 range. If gold prices move higher then strong resistance around 2640 will need to be focused on.

Gold operation strategy: Gold recommends short-term short selling near 2630-2635, stop loss 2642, and target 2620-2610. It is recommended to buy long at 2608-2612 below, stop loss at 2600, and target 2625-2635;

Trade closed: target reached

Gold experienced a unilateral downward trend in volatile trading yesterday. The price rebounded slightly in Asia and Europe. The European market was under pressure at the 2628 mark and ushered in a weak shock and fell. Finally, the price of gold accelerated downward in the US market and broke through the recent bullish dividing line of 2610. The mark ushered in an accelerated decline, and the price of gold dropped to near the 2595 mark and closed weakly. The daily K-line closed suppressed and fell back to the bardo.

The overall gold price encountered resistance at the 2638 mark after a continuous rebound, forming a continuous decline and volatile decline. In the short term, it returned to the suppressed and bearish pattern again. In the 4-hour chart, it was volatile downward. After being under pressure at 2638, it was under pressure at the 2628 line yesterday. The second high point coincided with the resistance of the middle track of the Bollinger Bands to form a suppressed decline. Continue to pay attention to the 2580 low point support below. The gains and losses of the low point determine the development of the future market space. If it breaks the low, it will weaken. If it does not break, it will continue to fluctuate. The small cycle structure is relatively weak, with 2620 as the watershed. Counterattacks during the day will rely on this position to continue to be bearish and follow the downward trend. The target position below is still focused on breaking the bottom, and maintains the main tone of participating in the trend.

Suggestions for intraday short-term operations: short sell near 2618-2620, looking down at 2608,2598.

Caesar_Gorman01

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