Technical analysis of gold: Yesterday, gold once again staged a wide roller coaster. It opened low and went high in the morning, and then fell again in the European session. The US session hit a high and fell back to bottom. It can be said that the volatility was too large, and the long and short conversions were too frequent. There were many risks and many opportunities. This gave us too many opportunities. Therefore, we have been emphasizing risk control first recently. Today is the fourth day of gold’s decline. It stopped falling at 2956 in the early morning, which is the previous high point. At present, the first round of gold’s decline in the short term has been in place. Many people panicked after three days of sharp decline. Those who bought the bottom dared not buy the bottom. Those who did not short should not chase the short position. The main force will continue to wash the market! Today, the correction rebound is mainly seen. The upper resistance focuses on 3015, then 3030-25 and yesterday’s high point 3045-55 area.
From the closing point of view, the daily line finally closed with a big Yin line with an upper shadow slightly longer than the lower shadow. After such a pattern ended, today’s market still has the need for adjustment, but as the market is oversold, the market has the need for rebound correction. Therefore, we treat it as a range shock during the day, maintain high-altitude and low-multiple, and focus on the intraday support of 2956-60. The short-term support is 2978-75. In theory, if you want to wash the market, wash it harder. 3000 can’t stop it. Pay attention to the 3020-30 range, and even rush yesterday’s high area and then fall. Today, it is mainly bullish and long. There is only more but no short below 2980. The bullish risk area above 3025-30, especially after a rapid rise, refer to the resistance to short! In general, the gold price is still in a long-term bullish trend, and the long-term operation still maintains the idea of buying on dips; the medium-term may maintain high-level shocks, and the medium-term operation needs to be treated with caution; although it is in a downward trend in the short term, beware of technical pullbacks due to oversold, and wait for opportunities to buy on dips in short-term operations. On the whole, today’s short-term operation strategy for gold is to focus on buying on pullbacks and shorting on rebounds. The short-term focus on the upper side is the 3025-3030 line of resistance, and the short-term focus on the lower side is the 2975-2956 line of support.
Short order strategy:
Strategy 1: When gold rebounds around 3030-3035, short sell (buy short) in batches, 20% of the position, stop loss 6 points, target around 3010-3000, break the position and look at 2990
Strategy 2: When gold falls back to around 2990-2993, buy long positions in batches (buy up) of 2/10, stop loss 6 points, target around 3010-3020, break to target 3035