Gold Sell At Key Resistance @2618-2620

Nov 18

🔶After the gold daily line experienced a 6-day adjustment and decline, the short-term downward trend has eased, and there are signs of stabilization and rise. The stochastic indicator (KDJ) is at a low level, although it is temporarily blunted, but the further downward space is limited. The MACD indicator double-line adhesion is downward, and the kinetic energy column is gradually shortened, reflecting the weakening of the downward momentum, and the daily line shows the possibility of stabilization and rebound. The daily chart shows that gold has the technical conditions for rebound correction after completing the phased adjustment.

🔶The 4-hour chart shows that gold has maintained a good upward momentum after breaking through the previous row of pressure belts. In the short term, prices are expected to continue to rise, but attention should be paid to the confirmation of the retracement after the breakthrough.

🔶Gold has currently broken through the 2600 integer mark. If it can break through and stand firm on the 2620 key pressure level, it will open up further upward space, with the target pointing to the 2627 high point, and even gradually testing the annual average line. However, it should be noted that if 2620 fails to break through effectively, gold may fall under pressure again, and the key support below is around 2580-2582. If 2580 is lost, the rebound correction will end, and the market may enter a situation of shock consolidation or downward pressure.

🔶The current price is in a stage of small fluctuations at a high level. There may be a trend of pulling up again after a retracement confirmation in the late trading.
The upper resistance focuses on the 2618-2620 area. If it breaks through and stabilizes, it will further open up the rebound space.
The lower support focuses on the 2580-2582 area. This is the key area for retracement confirmation. Once it is effectively defended, the bullish rebound trend can continue.

🔶Evening trading strategy
🔴Go long on retracement:
Refer to the 2580-2582 area to enter a long order, set the stop loss below 2575, and target the 2600-2610 area. After breaking through, continue to look at 2620-2627.
🟢Go short on rebound:
If the price encounters resistance and pressure in the 2618-2620 area, you can arrange a short order with a light position, set the stop loss above 2625, and target the 2600-2590 area.

🔴Risk Warning
In the short term, pay attention to the price reaction to the 2620 pressure level during the US trading session. If it stabilizes, the bulls will continue; if it is repeatedly under pressure, it may return to range fluctuations.
Stop losses must be strictly set during operations to avoid unnecessary losses due to sudden price fluctuations.
The current trend of gold is bullish, but it is necessary to pay attention to the gains and losses of key resistance and support levels to confirm the subsequent direction.

Nov 19

Trade active

In early trading, gold began to rise sharply, breaking through the position of 2625. Next, we should pay attention to the location near 2630