Gold 3.5 Analysis

The current technical side of gold shows a strong bullish trend, and the medium-term trend is bullish. The gold price broke through 2900 and closed above, indicating that the adjustment since 2955 may have ended, and the market has re-entered a bull-dominated pattern. Yesterday's strong rebound further consolidated the confidence of the bulls, and the medium-term trend is bullish.
Medium-term bullish basis:
Since gold rebounded from the low of 2832, a new upward trend has formed at the daily level.
The turbulent world situation (such as geopolitical risks, inflationary pressure, etc.) provides long-term support for gold, and the possibility of a large-scale adjustment is low.
Short-term key points:
Support: 2900-2902 (intraday long area), strong support at 2895 (long single defense position).
Resistance: 2927-2930 (short-term resistance), 2940-2950 (previous high suppression area).
Intraday operation ideas:
Purchase callback mainly:
Place long orders in the 2900-2905 area, stop loss below 2895, and target 2927-2930.
If it breaks through 2930, it will further look to the 2940-2950 area.
Short rebound as a supplement:
If gold falls under pressure in the 2927-2930 area, you can try shorting, with the target at 2905-2900.
If gold rises to the 2940-2950 area and shows stagflation signals, you can try shorting with a light position, with the target at 2920-2900.
Strategy after setting a new high:
If gold breaks through 2950 and sets a new high, it is not recommended to chase long directly, because there may be a pullback after the new high.
Wait for the pullback to confirm support before considering going long.
Risk warning:
Gold is currently in a high-level oscillation range, and volatility may intensify, so positions and stop losses need to be strictly controlled.
Summary:
Short-term direction: Gold fluctuates in the range of 2900-2930, and a breakthrough in either side may trigger a trend market.
Key target: Pay attention to the 2940-2950 area on the top, and it is expected to rise further after a breakthrough; pay attention to the 2900-2895 support on the bottom, and it may enter a correction if it falls below.
Operation strategy: Mainly long on the correction, supplemented by short on the rebound, pay attention to the breakthrough of key support and resistance levels