Gold's upward movement slows down at high levels

3 days ago

Gold rebounded after falling to 2924 in the evening, and then maintained weak consolidation under the pressure of the hourly middle track, but it is still in a bullish trend overall. The pattern is similar to yesterday's trend. The US market fell first and then rose, presenting a step-like rising structure. Bearishness must break this structure before participating, or try with a light position after the price rises. Trading suggestions are mainly long positions at low levels.

The upper resistance area is 2954-2950,

The lower support area is 2935-2924.

Evening operation suggestions:

Gold long orders, participate in long orders when the price falls back to the area around 2930-2933. Hold 2920, and pay attention to 2946 and 2955 above

Gold short orders, the price rises to the 2950-2954 area, try to short with a light position, and defend against breaking through the new high as the basis for stop loss. Pay attention to 2942 and 2930 on the downside.

2 days ago

Trade active

Good morning! In the Asian session, gold has twice tested the 2925 line but failed to pull back. The trend also echoes the low of last night. If this position rebounds, it may form an important support level in the short term. If it breaks down, it will test the 2918-2915 area below. And it will also form a weak trend in the short term.
The upper resistance is 2942-2946.

2 days ago

Trade closed: target reached

Gold has broken down in the short term, with support at 2918-2915 below. From the current structural point of view, both the hourly upward channel and the previous step-by-step upward structure have been broken. If the rebound above 2930 is still under pressure, the short-term trend of gold will change from long to short.