Geopolitical risks boost gold prices, focus on key resistance

6月13日

Market drivers
The escalation of the geopolitical situation in the Middle East has become the core catalyst for gold prices. The partial withdrawal of US personnel and Iran's retaliatory warnings have intensified risk aversion demand, and gold, as a traditional safe-haven asset, has received strong buying support. History shows that conflicts in the Middle East often push gold prices to rise in stages, and the current US-Iran confrontation may continue to boost gold prices.

Technical analysis
The 4-hour chart of gold shows a volatile upward structure. In the early trading, it broke through the 3400 mark with the help of risk aversion news. The short-term resistance moved up to the 3435-3438 area. If it breaks through, it will further look at 3468-3493. The key support is at 3403-3380, and it will weaken if it loses 3380. If the European session remains above 3410, the US session is expected to continue to rise; if the momentum decays, be wary of the risk of rapid retracement.

Operation strategy

Long position: Arrange in batches when the price falls back to 3403-3380, stop loss below 3375, target 3435-3468.

Short position: Try short position with light position when the price touches 3435-3438 for the first time, stop loss at 3445, target 3400; if the price breaks through 3440, wait and see until 3468 and then reverse the price.

Risk warning
The Fed's policy expectations and the changes in the situation in the Middle East are still double-edged swords. Be wary of profit-taking after risk aversion subsides. In the short term, the price should be more volatile, but the stop loss should be strictly enforced.

6月13日

交易進行

After the opening of the US market, gold broke through the European market range and moved up further. The bullish trend no longer needs to be emphasized.
At present, the gold price is steadily rising in the 4-hour upward channel, and the upper 3485 middle track coincides with the top of the hourly channel. This position may form an important resistance in the future.
The short-term support below is 3430. As the gold price moves up, the long-short dividing point also rises, currently in the 3400-3405 area.
From the perspective of sorting, the fundamental stimulus of gold and the escalation of risk aversion have accelerated the rise of gold, and the bullish trend is stable. The operation is mainly low-long.

Long strategy: Aggressive retracement to 3430-3425 can be lightly long first, looking for intraday highs. Steady participation in 3415-3405, the band looks at the breakout of 3480-3500. Breaking down 3380 is used as a stop loss basis.

6月13日

交易結束：目標達成

Gold is currently under pressure near the 3450 level, forming a double top fallback structure. The middle track of the hourly level is broken, and the bottom support of the 3415-3405 channel is tested below.
This is also a very common market where long funds run away on Friday. But the short-term long trend has not changed. For long positions, just pay attention to the bottom support level. Wait patiently for the end of the fall.
Long positions are now arranged near 3405-3415. Pay attention to risk control and bring targets.