2.10 Gold Analysis: Testing 2850 Support

2.10 Gold Analysis: Testing 2850 Support

Gold showed an up-and-down trend on Friday. Although the daily line closed with a long upper shadow, the weekly line still closed positively with a long body, indicating that the overall trend is still bullish.

However, since the daily line has a long upper shadow at a high level, blindly chasing more is risky, and it is recommended to adopt a strategy of falling back and going long.

Key support and resistance levels:

Support level: 2850, 2840

Resistance level: 2874, 2886 (previous high point)

Operational suggestions:

Bull strategy: Go long near 2850, stop loss set at 2842, target 2874, 2886.

Trend judgment: Although there may be a need for adjustment and callback in the short term, the overall upward trend has not changed, and the market is expected to continue to hit new highs.