Gold fluctuates in a narrow rangeGold fluctuated in a narrow range, and the short-term moving average turned downward, showing initial signs of weakening, but it is still in a bull market overall. Strong buying support was formed at the 3000 mark, and a "W double bottom" structure was formed below. If the 3035 watershed is broken, the historical highs of 3045 and 3057 may be tested. Be alert to the direction choice after the convergence of the angle of the daily moving average, and the trend may accelerate after the break.
The 4-hour level oscillation range narrowed (3010-3030), and the moving average was glued and flat. There was no clear direction in the short term, but attention should be paid to the continuity after the break.
The low point of the callback slowly moved up, suggesting potential small upward momentum, but it needs to break through the range for confirmation.
The short-term cycle support band near 3010 showed a stabilization signal. If the callback does not break this position, it may continue to fluctuate upward.
Operation strategy
Buy high and sell low within the range
Long order opportunity: intervene after the 3010-3012 support area stabilizes, stop loss below 3000, and target near 3030.
Short position opportunity: After the resistance area of 3030-3036 is under pressure, try shorting with a light position, stop loss above 3040, target near 3015.
Follow the breakout
Break above 3035: chase long, target 3045-3057, stop loss 3025.
Break below 3010: May test the 3000 mark. If it fails, it will weaken in the short term. You can short with the trend, target 2980-2990.
