Gold trend analysis and top and bottom signal sharingGold has risen for the seventh consecutive week. The RSI indicator is at a high level close to 80. The price is at the upper track of the Bollinger Band and exceeds the line. The price deviates from the MA10 daily moving average. Once the weekly RSI indicator forms an overbought or top divergence, and considering that the 7-week rise has reached a critical time window, we need to be careful of short-term peaks!
From a technical perspective, the short-term trend structure of the daily chart remains intact, but the price indicator has reached the end. We need to pay further attention to the subsequent policy impact of Trump's new policy. Once the top divergence is established, it will usher in a short-term wide-range downward shock and trend reversal!
The bullish upside space exceeds 330 $, and we need to start considering the bulls entering the end. At present, the transaction is still in the trend of participating in the short-term transaction of buying at a low price. The key resistance or historical high pays attention to the mid-term short opportunity of the band!
The gold market came a little late last Friday night. NFP bottomed out and rebounded directly to break through the new high, breaking the shock pattern! Gold hits a new high in the short term, and the bullish energy is very strong. The first wave of piercing is just a test, and there may be another pull-up and breakthrough in the future!
Gold fell after the short-term piercing, but the current gold price has begun to weaken its downward energy near 2855, and this intraday trend also shows that there is a strong support effect at the 2850 line. In the short term, gold is supported by 2850 and has not fallen below the NFP market low of 2852. It is easy to bottom out and pull up again, so the later short-term layout should first refer to the purchase above 2850!
Key points:
First support: 2853, second support: 2845, third support: 2830
First resistance: 2878, second resistance: 2888, third resistance: 2906
Operation ideas:
BUY: 2855-2858, SL: 2847, TP: 2870-2880;
SELL: 2890-2893, SL: 2902, TP: 2870-2860;
