Analysis of gold price trend next week

Analysis of gold price trend next week

Next week's Fed meeting will be a key node, and the market will pay close attention to its policy signals.

Analysis of gold trend:

Weekly level: Gold has risen for two consecutive weeks, and the bullish trend has not changed.

1-hour level: As long as the gold price remains above 2968, bulls still have the upper hand.

Key position:
The short-term key support level is $2956/ounce. If it falls below, it may retest 2928-2930
The upper resistance level is $3005/ounce. If it breaks through, it is expected to further test 3050

Fundamentals:

Positive factors: safe-haven demand, gold purchases in the Asian session, and expectations of a rate cut by the Federal Reserve provide a medium- and long-term upward basis for gold.

Negative factors: The rebound of the US dollar, the improvement of risk sentiment, and the technical overbought signal may limit short-term gains, and the market has a need for adjustment.

Operation ideas:
If it touches above 3010: consider shorting, target callback to around 2985, stop loss set at 3015

Call back to 2960: consider long, target up to 2990, stop loss set at 2955

Risk warning:
Fed meeting: If the easing signal is released, the gold price is expected to break through 3050
If the statement is hawkish or the economic data is stronger than expected, the gold price may face correction pressure.