XAUUSD:Trend analysis next week

Gold opened at the 1980 line on Friday morning. It received support after the opening and was unable to break through the 1980 mark. Instead, it began to rise. As a result, gold rose directly to the 1986 line. However, after this, gold fell into shock and was unable to break through further. During the Asian session, gold fluctuated within the 1986-1982 range. During the European trading session, gold began to rise further since 1982, and the power of the bulls was thus strengthened. Gold fluctuated all the way up, breaking through the previous day's high of 1987, and further broke through the 1990 mark. Gold's rise finally stopped at the 1993 line and began to fall back below 1990.

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Technically, from the daily chart, the daily line has been oscillating in the small range of 1955 to 2000 for 3 days. It broke a new high of 1987 on Friday and then began to step back, closing with a cross negative line. The daily high Constantly refreshing, the rising channel is intact, and it is expected to continue to fluctuate and rise. From the moving average point of view, MA5 and MA10 form a golden cross. From the indicator point of view, the Bollinger Bands are flat, and gold is running on the Bollinger Band track. From the indicator point of view, KDJ Continuing to turn upward, the MACD green kinetic energy column gradually shortens, and all forms and indicators are bullish simultaneously. Then the short-term fallback is still dominated by bulls, but before the 1970 area below is broken, we cannot blindly go short.

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From a four-hour perspective, gold surged upward in a shock manner. Although it did not form a unilateral rise, the overall high point moved upward, and the low point continued to move upward from 1950, 1975, and 1987. The longer the platform is consolidated in the rising market, the higher the price will rise. The better the persistence and intensity of the waves. Judging from the lowest fall back to the 1978 line in the evening of the previous trading day, it shows that the support below is strong and the room for decline is limited. The Bollinger Bands channel is trending upward, and gold continues to develop along the upper track of the Bollinger Bands. The bull signal is obviously strong. From a structural point of view, gold continues to rise. The day-to-day operation continues to maintain the bullish thinking. The lower support is at the 1975-1970 line, and the upper pressure is focused on 1993-2004.

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So for next week's operation, although gold is currently back to 1978, the bears have not yet broken through 1975 further. The future downward trend still needs to pay attention to whether there are unexpected events on the weekend. If the upper resistance level can break through the 1993 line, it will test the 2000 mark again, opening the door for further rise in gold prices. Taken together, it is recommended that when 1970 has not been broken through, it is mainly long to step back and short to high.

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