Market Review: Strong continuation, bulls dominate
Yesterday, gold opened high and moved higher, breaking through the 3400 mark. Although it retreated briefly, it quickly stabilized. The US market rose again, reaching above 3430. The daily line closed with a bald big positive line, showing extremely strong buying momentum.
Technical analysis: The bullish trend is stable, and retracement is an opportunity
Daily level:
Moving average system: MA5-MA10 bullish arrangement, prices continue to rise along the 5-day moving average
Bollinger Bands: Opening upward, no signs of closing, and there is still room for growth
K-line structure: Continuous large positive lines, no peak signal, strong trend continuity
Key support: 3400 (psychological barrier), 3380 (5-day moving average)
Upper target: 3450, 3480, 3500
Short-term (4H/1H):
High-level oscillation upward, limited retracement, and rapid recovery after each adjustment
Operation idea: Go low and long with the trend, avoid going against the trend and betting on the top
Today’s operation strategy: Continue to buy on retracement
1⃣ Steady long order:
Buy near 3473-3475, stop loss 3467, target 3488-3500
2⃣ Aggressive long order:
If it falls back to 3450-3455, you can add more with a light position, stop loss 3445, target 3470-3480
3⃣ Be cautious with short orders:
The current trend is extremely strong, and the risk of shorting against the trend is extremely high. Only short-term quick entry and exit (if 3500 is not broken, try shorting with a light position)
Risk warning
Market sentiment is extremely bullish, but be wary of sudden news that causes violent fluctuations
Strictly stop loss and avoid heavy positions
Conclusion: Trend is king, follow the trend and buy low!