GOLD Short-term buy and sell signals

Gold continues to maintain a wide range of high-level fluctuations. After setting a new high of 2956 yesterday, the NY market fell sharply to around 2930, and then rose strongly again in the late trading, bottoming out and rebounding in the fluctuation range. The price is still running in a bullish trend structure.

Today, the Asian session will first look at the continued rise of NY's late bottoming out and rebound, and pay attention to whether it can set a new intraday high. In terms of trading, keep buying at a low price, but only participate in short-term thinking. After the historical high or new high, pay attention to the indicator's top divergence and overbought, and there will be a fall and wash at any time.

Last week, gold was affected by the dual impact of escalating geopolitical tensions and uncertainty in the global economic recovery, and the spot gold price showed a fluctuating upward trend. The weekly line maintained an upward pattern. The gold price fell again to around 2930 during the day and stood firmly above this position.

At present, the short-term moving average is arranged in a bullish pattern, which clearly shows that the bulls have a dominant advantage. The bulls maintain an upward trend of shocks, the Bollinger Bands open upward, and various indicators are running at high levels. From the perspective of short-term indicators, the gold price still has the momentum to rise.

However, it should be noted that the daily line has been oscillating in a high range for 4 consecutive trading days. This oscillating trend has both advantages and disadvantages for both long and short parties, and it is very likely to be a signal that the bulls have reached their peak. However, given that the gold price continued to rise after several pullbacks last week, there is also the possibility of a bull correction pattern. Therefore, it is recommended to start with intraday operations around the range oscillation, and once the market breaks through, it is necessary to leave the market in time.

Key points:
First support: 2942, second support: 2933, third support: 2920

First resistance: 2960, second resistance: 2968, third resistance: 2978

Operation ideas:
BUY: 2933-2936, SL: 2925, TP: 2948-2950;

SELL: 2968-2971, SL: 2980, TP: 2950-2940;

交易進行

Gold reached the rising trend line and began to rebound. Buy above 2930 to make a profit. Congratulations

註釋

The current market trend is bearish, pay attention to the breakthrough direction of the 2920-2943 US dollar range.

After falling below 2930, it is likely to test the support band of 2920~2924. We will buy again when there is a stabilization signal near 2917~2920

手動結束交易

Gold ended a week of reshuffle. It broke through the support level. Waiting for stabilization! You can also find opportunities to sell after the rebound.