GOLD short-term analysis, shock range 2915~2950Gold has risen for 8 consecutive weeks. According to the time period calculation, it has reached the key time window. In the general upward trend, 7-9 consecutive rises are regarded as a turning point in the medium and short cycle (changing time window). Therefore, the upward space of this round of bullish trend is gradually compressed. Entering the end, the daily chart price maintains the previous high and adjusts below. The price has formed a wide range of high-level fluctuations for three consecutive trading days.
At present, the MA10/7-day moving average is shrinking, and the RSI indicator is running above the high 70 value. Be careful of the high-rise and fall of the medium. The short-term four-hour chart Bollinger band closes to the upper track 2950 and the lower track 2924. The current price is adjusted at the middle track 2937, and the moving average sticks to the RS1 indicator at the middle axis 50. The trading idea of gold at the beginning of the week is to sell at the rebound high (pay attention to the opportunity of band layout).
Last week, the price of gold hit a record high of $2,955 before falling back, indicating that the selling pressure at high levels has increased, but the overall trend is still bullish. After eight consecutive weeks of rising, the market has a need for technical corrections. The daily line has been sideways, indicating that the long and short forces are evenly matched, the market has entered a high-level consolidation, and the MACD has crossed, and there is a need for a correction!
The answer is to exchange time for space, waiting for further strong breakthroughs, or brewing a wave of downward corrections? This week, continue to pay attention to the breakthrough of the 2916-2955 range, and follow up after the break.
The strength of Monday this week is the key point for the long and short choices of gold. If gold continues to break upward steadily on Monday, then gold is now showing the form of refueling in the air. If it goes down, gold may be the beginning of a change. The key to gold this week is still at 2955.
Key points:
First support: 2915, second support: 2908, third support: 2893
First resistance: 2933, second resistance: 2946, third resistance: 2955
Operation ideas:
BUY: 2913-2916, SL: 2909, TP: 2940-2950;
SELL: 2947-2950, SL: 2959, TP: 2920-2910;
