Four-hour resistance 2948, support below 2918
Four-hour resistance 2948~2960, support below 2906
Gold is currently fluctuating near its historical high. In the short term, we need to pay attention to the breakthrough of $2,947. If it is blocked and falls back, it may pull back to the $2,920-2,900 area.
The rebound of the US dollar and technical profit-taking are the main risks. In the medium term, the main focus is on retracement and low-price longs. Market volatility may increase due to policy and geopolitical risks. It is recommended to adjust positions dynamically based on technical and fundamental factors.
If the gold price stands above $2,940 and breaks through the historical high, it may continue to rise to $2,950-2,960, or even challenge the psychological barrier of $3,000.
Buying advice: Buy in batches after the decline in the $2,920-2,900 area stops. Near 2,920: The previous retracement low and the 1-hour Bollinger band middle track support area, if it falls below, it may trigger a short-term pullback