Gold trend analysis next Monday
Gold continued to fluctuate this week, rebounding from Monday to Wednesday and falling back on Thursday, but the market was not sustainable and the 2300 mark could not be effectively broken. Next week, we need to prevent the bulls from making a comeback. The continuous rise in gold prices on Friday consolidated the upward trend. At present, gold is still hovering at a high level and cannot fall. Gold bulls are still relatively strong. The gold price did not break through the high point of 2341 on the last trading day. It was just that the momentum was insufficient in the second half of the night, but it does not mean that it cannot break through next Monday, because the current bullish trend is already very obvious. Without external stimulation, gold cannot have a unilateral decline. I personally tend to think that it was a shock stabilization bottoming pattern before. In terms of the general trend, the current fundamentals do not have the conditions for a big drop. On the contrary, from the weekly level, it is more of a high-level wide-range shock correction, accumulating strength for further rise later. It is too early to say that the upward trend is over, so after gold falls back on Monday next week, it will go long. The upper target will first look at the 2345 first-line pressure level!
The 4-hour line has been rising continuously, and the moving average has crossed upward. The overall technical structure is bullish. In addition, the MACD indicator has crossed again and increased in volume. The gold price has a rebound correction demand. Since the gold price bottomed out and pulled up, it has now stabilized the moving average support. At the same time, the moving average is also showing an upward trend. It is expected that a new round of pull-ups will start after the moving average crosses next Monday. From the overall market, short-term operations in the later period can only go long! The primary support level below is the 2318 line, and you can start the layout when you arrive for the first time! The short-term long target is directly at the 2341 line. After breaking through and stabilizing, it will fall back and add positions to go long. The final target of the band is to look at the retracement level of 2350 of the previous unilateral decline wave of 0.618!
On the whole, the short-term operation suggestions for gold next Monday are mainly to do longs on callbacks, supplemented by shorts on rebounds. The top short-term focus will be on the 2341-2345 resistance range, and the bottom short-term focus will be on the 2305-2300 support range.
The 4-hour line has been rising continuously, and the moving average has crossed upward. The overall technical structure is bullish. In addition, the MACD indicator has crossed again and increased in volume. The gold price has a rebound correction demand. Since the gold price bottomed out and pulled up, it has now stabilized the moving average support. At the same time, the moving average is also showing an upward trend. It is expected that a new round of pull-ups will start after the moving average crosses next Monday. From the overall market, short-term operations in the later period can only go long! The primary support level below is the 2318 line, and you can start the layout when you arrive for the first time! The short-term long target is directly at the 2341 line. After breaking through and stabilizing, it will fall back and add positions to go long. The final target of the band is to look at the retracement level of 2350 of the previous unilateral decline wave of 0.618!
On the whole, the short-term operation suggestions for gold next Monday are mainly to do longs on callbacks, supplemented by shorts on rebounds. The top short-term focus will be on the 2341-2345 resistance range, and the bottom short-term focus will be on the 2305-2300 support range.
Comment:
The future trend of gold prices will be significantly affected by the Fed's policies and the upcoming economic data. Investors will pay close attention to the University of Michigan's consumer confidence index and preliminary data on inflation expectations, as well as speeches by Fed policymakers. In particular, Chicago Fed President Goolsbee's fireside chat may provide new clues to the market. The volatility of gold prices provides investors with abundant trading opportunities. In the current market environment, investors should remain cautious while paying close attention to the Fed's policy trends and the release of economic data. Although gold prices may face downward pressure in the short term, in the long run, market expectations of Fed rate cuts and weaker inflation data may bring new upward momentum to the gold market. In this uncertain period, every fluctuation in the gold market deserves our close attention and in-depth analysis. The direction of global markets next week will be affected by many factors, including central bank monetary policy decisions, the release of US retail sales data, and the supply crisis in the energy market. Investors need to pay close attention to these key events to make wise investment decisions.
Comment:
Gold did not directly break through the previous high of 2340 at the opening on Monday, but fell weakly. This is consistent with our expectations over the weekend. Gold bulls lack sufficient momentum to support the rise and are still fluctuating in a large range. At present, in the daily trend, gold is temporarily maintaining a low-level fluctuation. It should be noted that with the wave of increases on Friday, the current technical pattern shows signs of gradual adjustment. After the price rebounded and touched the previous pressure zone, there was no obvious downward adjustment space, and it tended to have a continued rebound space in the daily trend.
Gold is still fluctuating in a large range on the 1-hour chart, and there is no break above or below. Therefore, don't chase the rise and fall easily, and control the rhythm to sell high and buy low. On Friday, gold rose to the highest level of 2336 and fell under pressure, failing to break through 2340. Today's idea of gold is very simple. If it goes down in the early trading, you can boldly short it today. Friday's rebound sideways movement did not break through the key pressure level, and today's trend is also difficult. From the perspective of rebound correction or the factor of selling returning to the market, gold should fall back.
Overall, today's short-term operation of gold is mainly short-selling on rebounds, supplemented by long-selling on pullbacks. The short-term focus on the upper side is the 2341-2345 resistance range, and the short-term focus on the lower side is the 2305-2300 support range.
Gold did not directly break through the previous high of 2340 at the opening on Monday, but fell weakly. This is consistent with our expectations over the weekend. Gold bulls lack sufficient momentum to support the rise and are still fluctuating in a large range. At present, in the daily trend, gold is temporarily maintaining a low-level fluctuation. It should be noted that with the wave of increases on Friday, the current technical pattern shows signs of gradual adjustment. After the price rebounded and touched the previous pressure zone, there was no obvious downward adjustment space, and it tended to have a continued rebound space in the daily trend.
Gold is still fluctuating in a large range on the 1-hour chart, and there is no break above or below. Therefore, don't chase the rise and fall easily, and control the rhythm to sell high and buy low. On Friday, gold rose to the highest level of 2336 and fell under pressure, failing to break through 2340. Today's idea of gold is very simple. If it goes down in the early trading, you can boldly short it today. Friday's rebound sideways movement did not break through the key pressure level, and today's trend is also difficult. From the perspective of rebound correction or the factor of selling returning to the market, gold should fall back.
Overall, today's short-term operation of gold is mainly short-selling on rebounds, supplemented by long-selling on pullbacks. The short-term focus on the upper side is the 2341-2345 resistance range, and the short-term focus on the lower side is the 2305-2300 support range.
Comment:
Gold Fundamental Analysis, June 17
In the early European trading on Monday (June 17), spot gold suddenly fluctuated. The price of gold fell sharply to around 2315, and then rebounded quickly, and is currently around 2320. Spot gold closed up 1.23% on Friday, closing at $2332.10 per ounce. The price of gold soared by $38.36 last week, an increase of 1.67%.
The fundamental outlook dominated by geopolitical uncertainty and rising debt levels remains favorable for gold. However, the short-term technical outlook is a bit unstable, as the price trend is forming a bearish head and shoulders pattern, with the neckline support area between 2,300 and 2,275. If the price of gold falls below the initial support level, it will fall all the way to 2100 and retest the key support level of 2075. Although the price of gold has successfully defended the support level of 2,300 in the past two tests, this level looks a bit fragile, and the dual factors of weak stock markets and a stronger dollar may bring some resistance to precious metals in the short term.
Amid the volatility and uncertainty of the global economy, gold, as a traditional safe-haven asset, has always been the focus of investors' attention. Although the current market sentiment is bearish, any recovery in gold prices requires a breakthrough of key technical levels. At the same time, investors should pay close attention to the trend of the US dollar, changes in risk sentiment, and the far-reaching impact of the Fed's policy moves on the gold market, which will provide new trading opportunities for gold prices.
In the early European trading on Monday (June 17), spot gold suddenly fluctuated. The price of gold fell sharply to around 2315, and then rebounded quickly, and is currently around 2320. Spot gold closed up 1.23% on Friday, closing at $2332.10 per ounce. The price of gold soared by $38.36 last week, an increase of 1.67%.
The fundamental outlook dominated by geopolitical uncertainty and rising debt levels remains favorable for gold. However, the short-term technical outlook is a bit unstable, as the price trend is forming a bearish head and shoulders pattern, with the neckline support area between 2,300 and 2,275. If the price of gold falls below the initial support level, it will fall all the way to 2100 and retest the key support level of 2075. Although the price of gold has successfully defended the support level of 2,300 in the past two tests, this level looks a bit fragile, and the dual factors of weak stock markets and a stronger dollar may bring some resistance to precious metals in the short term.
Amid the volatility and uncertainty of the global economy, gold, as a traditional safe-haven asset, has always been the focus of investors' attention. Although the current market sentiment is bearish, any recovery in gold prices requires a breakthrough of key technical levels. At the same time, investors should pay close attention to the trend of the US dollar, changes in risk sentiment, and the far-reaching impact of the Fed's policy moves on the gold market, which will provide new trading opportunities for gold prices.
Comment:
Gold Trading Strategies Reference
🎯Strategy 1: Go short when gold rebounds to around 2328-2330, stop loss 6 points, target around 2315-2310, break the position and look at the 2305 line✅
🎯Strategy 2: Go long when gold pulls back to around 2302-2305 , stop loss by 6 points, target around 2315-2320, and look at the 2325 line if the position is broken✅
The trend of the gold market is changing rapidly, and trading strategies may also be adjusted in real time. Investors are advised to place orders cautiously and manage account funds and positions reasonably.
🎯Strategy 1: Go short when gold rebounds to around 2328-2330, stop loss 6 points, target around 2315-2310, break the position and look at the 2305 line✅
🎯Strategy 2: Go long when gold pulls back to around 2302-2305 , stop loss by 6 points, target around 2315-2320, and look at the 2325 line if the position is broken✅
The trend of the gold market is changing rapidly, and trading strategies may also be adjusted in real time. Investors are advised to place orders cautiously and manage account funds and positions reasonably.
Comment:
🔥Hit strategy 1 and reach 2310.020✅
Comment:
We said in the early trading session of the European market today that gold rebounded weakly. Although it is oscillating in the 4-hour period, the overall trend is still bearish. Before the upward breakthrough, it is just an oscillation in the downward relay, and the final direction will still choose to go down. Gold rebounded to a high of 2327.680 in the European market today and then fell back quickly. The speed and strength of the fall were obviously stronger than the speed and strength of the rise, indicating that gold is still in the hands of the bears.
The 1-hour chart shows that there is no breakthrough and the upward momentum of gold is insufficient, and the overall trend is in a downward trend. There are still many resistances above, and the rebound is still an opportunity for shorting.
During the US trading session, the short-term focus on the upper side is the 2320-2323 resistance range, and the short-term focus on the lower side is the 2303-2300 support range
The 1-hour chart shows that there is no breakthrough and the upward momentum of gold is insufficient, and the overall trend is in a downward trend. There are still many resistances above, and the rebound is still an opportunity for shorting.
During the US trading session, the short-term focus on the upper side is the 2320-2323 resistance range, and the short-term focus on the lower side is the 2303-2300 support range
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