Since the peak at 3500, the lowest price in the US market on Wednesday was 3260. It fell by 240 US dollars in two trading days this week. The momentum is very strong, but the big cycle of gold this year is still a bullish trend. Don’t be affected by the adjustment of the small cycle. In the bullish rhythm, the adjustment is to give opportunities for long positions. Therefore, once the adjustment is over, you can start to go long and bullish.
From a technical point of view, the daily line stands firmly above the 10-day moving average, which is an important reason for the current bullishness of gold. For the time being, the daily mid-term Bollinger has not closed, and don’t guess the top when it rises. The short-term target is 3400, and the long-term target is 3500. After the breakthrough, don’t guess the highest point. The performance of the H4 mid-term is obvious. The bottom is above the lower Bollinger track and the 60-day moving average, and the Bollinger band just closes. This is a very obvious performance of stopping the decline and bottoming out!
If gold breaks through the 3370 line again, then gold will truly turn strong. Even so, it will fluctuate and rise, and we must wait patiently for the opportunity to continue to fall. The market changes rapidly, and the recent gold market is like this, with ups and downs, so don’t be surprised.
Key points:
First support: 3332, second support: 3320, third support: 3300
First resistance: 3370, second resistance: 3386, third resistance: 3408
Operation ideas:
Short-term gold 3322-3325, stop loss 3313, target 3360-3380;
Short-term gold 3383-3386, stop loss 3395, target 3320-3330;