Market analysis:
Gold opened slightly lower on Monday and fell to around 3331 before rebounding. After being blocked near 3357, it began to fluctuate and fall. The lowest point in the European session fell to around 3324, and then the market stopped falling and fluctuated and rose. The US session continued to rise, and the daily line closed with a small negative line with a lower shadow.
Gold showed a big positive trend last Friday, and closed negative on Monday for adjustment. The current 5-day moving average and the 10-day moving average form a golden cross and continue upward. This moving average pattern shows a certain bullish momentum. In the short term, focus on the support of the 5-day moving average, which is currently around 3330. When the price is above this moving average, the market fluctuates mainly on the strong side.
The upper resistance level first looks at around 3365, which is the high point of last Friday. Before the price does not break through this resistance level strongly, the volatile market will remain.
On the whole, today's focus will be on the support of the 3330-3326 area below, and the focus will be on the resistance near 3365 above.
Operation strategy:
Short at rebound near 3365, stop loss at 3375, profit range 3345-3330
Long at retracement near 3326, stop loss at 3316, profit range 3350-3370
Gold opened slightly lower on Monday and fell to around 3331 before rebounding. After being blocked near 3357, it began to fluctuate and fall. The lowest point in the European session fell to around 3324, and then the market stopped falling and fluctuated and rose. The US session continued to rise, and the daily line closed with a small negative line with a lower shadow.
Gold showed a big positive trend last Friday, and closed negative on Monday for adjustment. The current 5-day moving average and the 10-day moving average form a golden cross and continue upward. This moving average pattern shows a certain bullish momentum. In the short term, focus on the support of the 5-day moving average, which is currently around 3330. When the price is above this moving average, the market fluctuates mainly on the strong side.
The upper resistance level first looks at around 3365, which is the high point of last Friday. Before the price does not break through this resistance level strongly, the volatile market will remain.
On the whole, today's focus will be on the support of the 3330-3326 area below, and the focus will be on the resistance near 3365 above.
Operation strategy:
Short at rebound near 3365, stop loss at 3375, profit range 3345-3330
Long at retracement near 3326, stop loss at 3316, profit range 3350-3370
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