Judging from the daily structure, although gold closed positive yesterday, it failed to break through the 10-day moving average above, and the daily moving average showed a cross downward trend, which put some pressure on bulls. In the absence of clear bullish factors, it may be difficult for gold to break through the key level of 2350. Although the market still appears to be dominated by medium-term bullish sentiment, the possibility of a short-term decline exists.
Yesterday, the golden daily line recorded a positive column with upper and lower shadow lines, ending three consecutive negative arrangements, showing the advantages of many parties. At present, the price continues to move between the short-term moving average and the Bollinger Band, and the Bollinger Bands are gradually opening. Although the short-term indicators are still testing downward, they deviate from the K-line pattern. The future trend of the daily line will give more clues in today's trading.
Yesterday evening, $2,345 was cited as an important resistance level. Although the price once broke through, it failed to stand firmly. Fortunately, the price finally closed above $2,330, supporting the daily positive turn. Today's key point is $2,350. If it can be effectively broken through and stabilized, the staged upward support will be more solid. On the other hand, if it cannot be stabilized, prices may continue to fluctuate in the short term.
The gold market as a whole shows a strong trend, but technical indicators show that there is a certain degree of overbought conditions and need to be repaired and covered. Although it is not necessary to completely cover $25, it is expected that the minimum level of cover will reach $10-15 to correct the overbought status. $2,300 is considered an effective support level. It should be noted that in the current situation of intensified market volatility, a single point of support or resistance is not the main basis for judging direction.
Taken together, today's gold operation ideas are long and bullish around 2330, with the target looking at 2350. If it can effectively break through and stabilize, we will further pay attention to 2363-2372. The overall operation idea is to focus on longs on callbacks, supplemented by shorts on rebounds. The top focuses on the resistance range of 2363-2368, and the bottom focuses on the support range of 2330-2335.
Yesterday, the golden daily line recorded a positive column with upper and lower shadow lines, ending three consecutive negative arrangements, showing the advantages of many parties. At present, the price continues to move between the short-term moving average and the Bollinger Band, and the Bollinger Bands are gradually opening. Although the short-term indicators are still testing downward, they deviate from the K-line pattern. The future trend of the daily line will give more clues in today's trading.
Yesterday evening, $2,345 was cited as an important resistance level. Although the price once broke through, it failed to stand firmly. Fortunately, the price finally closed above $2,330, supporting the daily positive turn. Today's key point is $2,350. If it can be effectively broken through and stabilized, the staged upward support will be more solid. On the other hand, if it cannot be stabilized, prices may continue to fluctuate in the short term.
The gold market as a whole shows a strong trend, but technical indicators show that there is a certain degree of overbought conditions and need to be repaired and covered. Although it is not necessary to completely cover $25, it is expected that the minimum level of cover will reach $10-15 to correct the overbought status. $2,300 is considered an effective support level. It should be noted that in the current situation of intensified market volatility, a single point of support or resistance is not the main basis for judging direction.
Taken together, today's gold operation ideas are long and bullish around 2330, with the target looking at 2350. If it can effectively break through and stabilize, we will further pay attention to 2363-2372. The overall operation idea is to focus on longs on callbacks, supplemented by shorts on rebounds. The top focuses on the resistance range of 2363-2368, and the bottom focuses on the support range of 2330-2335.
Comment:
Gold Trading Strategies Reference
🎯Strategy 1: Go short when gold rebounds to around 2330-2335, stop loss 6 points, target around 2315-2305, break the position and look at the 2295 line✅
🎯Strategy 2: Go long when gold pulls back to around 2290-2295, stop loss 6 points, target around 2305-2315, break the position and look at the 2320 line✅
🎯Strategy 1: Go short when gold rebounds to around 2330-2335, stop loss 6 points, target around 2315-2305, break the position and look at the 2295 line✅
🎯Strategy 2: Go long when gold pulls back to around 2290-2295, stop loss 6 points, target around 2305-2315, break the position and look at the 2320 line✅
Comment:
Comment:
Gold surged higher and fell back on Friday. The price fell slightly back to 2326 in early trading and then continued to rise. The highest in European trading was 2352. The market began to fall before the US market. After the data was released, the market was unable to rise. Then the price fluctuated and fell, with the lowest touching 2328. Basically It gave up most of the day's gains, and gold swept back and forth in the short term. The recent unilateral rise was actually not strong. It fell back quickly after breaking through. Gold has experienced four trading days of low range fluctuations, showing that the market is looking for direction. Gold's breakthrough means that the market has chosen an upward direction, and the market price has entered a strong rhythm. As prices rise, our trading strategies need to adjust accordingly.
Data released on Thursday also showed that the personal consumption expenditures (PCE) price index increased at an annual rate of 3.4% in the first quarter, while the Federal Reserve's inflation target is 2%. Investors will scrutinize Friday's March monthly inflation data (PCE) to determine whether the higher-than-expected quarterly figure in the GDP data will translate into an acceleration in March price increases or upward revisions to the January and February figures. . The April jobs report will be released next Friday. Thursday's economic activity report was the latest wake-up call for investors and Federal Reserve policymakers, who have been holding their breath hoping that falling inflation would allow rate cuts to begin in earnest this summer. Data showed that U.S. inflation was more stubborn than expected for the third month in a row after cooling off perfectly in the second half of last year. So far this year, individual economic growth and price data have not been enough on their own to significantly change the Fed's outlook. But the cumulative impact of these successive disappointing numbers is significant. In particular, inflation data has been stronger than expected, with revisions to inflation data rising in subsequent reports in recent months. The trend has prompted investors and Fed officials to reconsider whether a rate cut this year is appropriate. Investors and analysts were initially more focused on high inflation data than on the possibility that the economy was finally showing signs of the cooling the Fed expected.