Waiting for buy confirmation above 2800. See below for analysisThe overall bottoming and rebounding trend of gold at the beginning of the week has undoubtedly laid a strong foundation for the bulls. It is understandable that the next step-back trend is bullish, but since the price fell after rising in the late trading and closed below 2820, I think it is necessary to make a short-term decline judgment on the intraday market trend.
From the current market, the daily chart shows three consecutive increases. The price at the beginning of the week effectively ran above the short-term moving average, and led the short-term moving average to rise. The Bollinger Bands opened upward as a whole. When other periodic indicators remain in a bullish arrangement, coupled with the upward movement of the macd indicator golden cross, it should be beneficial for the bulls to pull up in the short term, so the daily line is bullish as a whole.
In terms of 4 hours, the gold price fell after rising. The current price is still hovering above the short-term moving average, and the middle track of the Bollinger Bands also extends upward. Therefore, it can be judged that the short-term downward space of the gold price is limited. Although the macd indicator is golden cross, the upward potential is insufficient. Therefore, the overall 4-hour level can wait for the bulls to counterattack again after the decline adjustment.
For the lower support of gold, pay attention to the 2800 area. The movement above 2800 will help the bulls to test and break through 2830. If the bears take 2800, focus on the 2800-2795 area, which is the dense support area of the current technical pattern, so when the gold price approaches or touches it, you need to decisively arrange to buy.
For the upper resistance, pay attention to the vicinity of 2830. If the gold price stabilizes above 2808 during the day, the short position can only find an opportunity to participate when the resistance is touched for the first time, and be prepared for a long breakthrough at any time. If the gold price breaks the 2808 support first, then the possibility of breaking through 2830 during the day will be ruled out. At that time, it is necessary to arrange the short position at 2820 or above!
Key points:
First support: 2808, second support: 2800, third support: 2792
First resistance: 2823, second resistance: 2838, third resistance: 2850
Operation ideas:
BUY: 2802-2805, SL: 2793, TP: 2830-2840;
SELL: 2845-2848, SL: 2857, TP: 2810-2800;
