Kevin-analyst9

Gold prices maintain range adjustment

Short
PYTH:XAUUSD   Gold Spot
Gold last week was generally recovering from Monday's sharp decline. During the week, it once retreated downwards and broke through the 2300 integer mark to reach around 2291 and rebounded. Gold prices were supported above 2320 throughout the day on Friday, maintaining bullish shocks, rebounding and repairing, and accelerated higher before the US market in the evening, breaking through the 2352 mark to close. The daily K-line closed higher, fell back and fluctuated with a cross K, and the overall price was still operating within a wide range of long and short shocks.


Looking at the gold daily chart, in the daily K, the stochastic indicator is mainly in the dead cross, and no golden cross is currently formed; therefore, it cannot be said that the trend has reversed the downward trend for the time being; the central axis track supports the position around 2290. From the 4-hour chart, BOLL continues to trend flat, but the pressure on the form is BOLL's upper track pressure, the stochastic indicator crosses, and the weekend news is not strongly positive, launching an impact. In addition, the previous trend was a correction after a sharp decline; in 4 hours, it is recommended to follow the BOLL track and choose to go short on rallies;


On the whole: it is recommended to choose the idea of ​​shorting on rallies; the short-term reference positions during the day are around 2340; and the position near 2350, two pressure positions, shorting, and the game continues downward;


Gold operation strategy:

It is recommended to go long on the retracement of 2315-2320, with the target of 2335-2340.

It is recommended to go short on a rebound of 2350-2348, with a target of 2340-2335.
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Gold is still mainly short today, with short positions at 2314-16, and 2305-2300 below.
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