📊Gold opened higher after the Asian session opened, directly breaking through the key support of 2858 and rising rapidly, forming a very strong unilateral structure during the day. The current price is trading sideways around 2870, and the K-line gradually stabilizes the short-term moving average system (5/10EMA), indicating the decline of short-term momentum and the willingness of long-term repair. It is necessary to pay attention to whether the upward momentum can be continued in the European session.
📊It is currently in the stage of rebound continuation, but the upward momentum needs to be further confirmed. If it breaks through 2885, it will open up the upward space, otherwise it may enter a shock correction. The hourly moving average system is in a bullish arrangement (MA5 crosses MA20), but the MACD volume column is shrinking, suggesting that there is a technical callback demand in the short term, and the lower support 2858-2860 is the long-short watershed.
🔴Upper resistance level:
-First: 2880-2885
-Second: 2890-2900
🟢Lower support level:
-First: 2855-2858
-Second: 2832-2830
✅Intraday Trading strategy:
🔶GOLD SELL: 2885-2888
🔰TP1: 2875
🔰TP2: 2865
🔰TP3: 2855 OPEN~
🔶GOLD BUY: 2858-2860
🔰TP1: 2870
🔰TP2: 2880
🔰TP3: 2890 OPEN~
📛Risk Management
--The medium-term rebound pattern has not changed, but we need to be alert to high-level corrections in the short term. The gap in the Asian session forms support. If the European session falls back and does not break 2858, we will maintain a low-long strategy.
--If the price unexpectedly falls below 2855, it will turn to a volatile bearish trend during the day. It is necessary to suspend long orders and observe the defense of 2832.
--Pay attention to changes in US economic data and market sentiment. If it breaks through 2885, follow the trend. Otherwise, we need to guard against the risk of a rapid decline after a high rise.
--Trading strategies are time-sensitive. We will adjust trading strategies in real time according to market changes. Please pay attention.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.