August 6 Gold Analysis Report
🔥 1. Market Review: V-Shaped Reversal Demonstrates Resilience
Yesterday, gold experienced a thrilling roller coaster ride:
Under pressure in the Asian and European sessions: The market fluctuated and fell after the opening, hitting an intraday low of $3,349 before the US market opened.
A strong reversal in the US session: The market quickly surged over $40, reaching a new high of $3,390.
Finally stabilized: The market closed at $3,380, achieving its fourth consecutive daily gain.
This trend confirms strong buying support in the $3,350 area, indicating that the market is highly sensitive to breaking news.
💎 2. Core Drivers: Policy Uncertainty Dominates
1. Federal Reserve Personnel Shakeup
Trump announces replacement of Board Member Kugler and considers four candidates to succeed Powell
Market bets on a more dovish new leadership (excluding Treasury Secretary Bensont)
Expectations of weakening US dollar credibility fuel safe-haven flows into gold
2. Conflicting Economic Signals
The narrowing trade deficit to a two-year low versus stagnant service sector activity
Reinforces gold's value as the ultimate safe-haven asset
📊 3. Technical Landscape: Breakout Anxiety
Key Resistance Zone: $3390-3400 (overnight high + psychological round number)
Three failed attempts to push higher, forming a short-term technical barrier
Core Support Zone: $3350-3340 (daily moving average concentration + yesterday's reversal point)
Bull-Bear Game Signals:
Four consecutive daily gains demonstrate bullish resilience, but shrinking MACD bars suggest weakening momentum The hourly chart shows strong fluctuations above 3370, but a breakout requires volume support.
📌 Currently at the end of the $3340-3400 range, a breakout could occur at any time.
⚔️ IV. Trading Strategy: Seizing Breakout Opportunities During Volatility
Intraday Strategy:
Primarily long on pullbacks, supplemented by shorting at high levels
Bull Opportunities:
Go long in the $3365-3366 area, stop-loss at $3359
Target $3390 → $3400
Short Defense:
If $3390-3400 finds resistance, try shorting with a small position (strict stop-loss above $3410).
Breakout Follow-up:
If the $3400 level holds, go long, targeting $3430.
If the $3390-3400 level fails to break through, wait for a test of support at $3340/3320.
🌟 Strategy Reminder:
The market is currently on the verge of a breakout; patiently await a breakout opportunity.
Trade cautiously and manage risk! Wish you good luck!
🔥 1. Market Review: V-Shaped Reversal Demonstrates Resilience
Yesterday, gold experienced a thrilling roller coaster ride:
Under pressure in the Asian and European sessions: The market fluctuated and fell after the opening, hitting an intraday low of $3,349 before the US market opened.
A strong reversal in the US session: The market quickly surged over $40, reaching a new high of $3,390.
Finally stabilized: The market closed at $3,380, achieving its fourth consecutive daily gain.
This trend confirms strong buying support in the $3,350 area, indicating that the market is highly sensitive to breaking news.
💎 2. Core Drivers: Policy Uncertainty Dominates
1. Federal Reserve Personnel Shakeup
Trump announces replacement of Board Member Kugler and considers four candidates to succeed Powell
Market bets on a more dovish new leadership (excluding Treasury Secretary Bensont)
Expectations of weakening US dollar credibility fuel safe-haven flows into gold
2. Conflicting Economic Signals
The narrowing trade deficit to a two-year low versus stagnant service sector activity
Reinforces gold's value as the ultimate safe-haven asset
📊 3. Technical Landscape: Breakout Anxiety
Key Resistance Zone: $3390-3400 (overnight high + psychological round number)
Three failed attempts to push higher, forming a short-term technical barrier
Core Support Zone: $3350-3340 (daily moving average concentration + yesterday's reversal point)
Bull-Bear Game Signals:
Four consecutive daily gains demonstrate bullish resilience, but shrinking MACD bars suggest weakening momentum The hourly chart shows strong fluctuations above 3370, but a breakout requires volume support.
📌 Currently at the end of the $3340-3400 range, a breakout could occur at any time.
⚔️ IV. Trading Strategy: Seizing Breakout Opportunities During Volatility
Intraday Strategy:
Primarily long on pullbacks, supplemented by shorting at high levels
Bull Opportunities:
Go long in the $3365-3366 area, stop-loss at $3359
Target $3390 → $3400
Short Defense:
If $3390-3400 finds resistance, try shorting with a small position (strict stop-loss above $3410).
Breakout Follow-up:
If the $3400 level holds, go long, targeting $3430.
If the $3390-3400 level fails to break through, wait for a test of support at $3340/3320.
🌟 Strategy Reminder:
The market is currently on the verge of a breakout; patiently await a breakout opportunity.
Trade cautiously and manage risk! Wish you good luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.