The gold daily line ended with a long negative line with a slightly longer lower shadow, which shows that the downward trend of gold is clear. Today is undoubtedly bearish, Therefore, we gave a short strategy of 2337 to our internal members in the morning session and entered the market to short sell in batches. The market is also as expected, rebounding to around 2340 in the short term and then began to fall.
From the daily line, yesterday, gold was under pressure at the 2363 mark during the Asian and European sessions and then fell back, oscillating downward and breaking the bottom, showing a unilateral short-selling decline throughout the day. During the evening US session, the weak rebound continued to weaken after being under pressure at the 2347 mark. In the end, the daily K-line closed with a suppressed and falling middle Yin. The overall price ushered in a short-selling adjustment above the 2360 mark as expected, and the short-term technical indicators still showed a weak short-selling adjustment. From today's point of view, there is still room for further downward decline below gold.
After the current low point of gold, the daily level is adjusted, and the 4-hour, 1-hour and 30-minute levels are all in a downward structure. Only the small levels of 15 minutes and 5 minutes will have a short-term rebound of 8 or 10 US dollars. Gold rebounded after testing the 2322 area in the European session. Pay attention to the short-selling opportunities in the 2337-2338 pressure area, and pay attention to the 2342 area. Continue to look at the 2320-2315 line below. The market fluctuates greatly. The 2300 US dollars and 2280 US dollars can be seen below the midline.
Overall, in terms of short-term operation ideas for gold today, it is recommended to short on rebounds and to buy on pullbacks. The upper short-term focus is on the 2342-2347 resistance range, and the lower short-term focus is on the 2300-2303 support range.
Comment:
Gold Trading Strategies Reference
🎯Strategy 1: Go short when gold rebounds to around 2358-2360, stop loss 6 points, target around 2350-2340, break the position and look at the 2335 line✅
🎯Strategy 2: Go long when gold pulls back to around 2335-2337 , stop loss by 6 points, target around 2345-2355, and look at the 2360 line if the position is broken✅
🎯Strategy 1: Go short when gold rebounds to around 2358-2360, stop loss 6 points, target around 2350-2340, break the position and look at the 2335 line✅
🎯Strategy 2: Go long when gold pulls back to around 2335-2337 , stop loss by 6 points, target around 2345-2355, and look at the 2360 line if the position is broken✅
In addition, other periodic indicators currently maintain a short position arrangement, and the Bollinger Bands as a whole have an intensified downward trend. In addition, the MACD indicator maintains a dead cross pattern and runs downward, and the KDJ indicator dead cross also has the potential for downward volume, and the overall daily line decline is strengthening.
In the morning session today, gold fell under pressure near 2340, and then the market stopped falling and rebounded, and the K-line recovered most of the intraday losses. During the European session, the market failed to continue to explore, showing a volatile rebound trend, and broke through the early high, and the European session strengthened. Therefore, the bearish expectations in the evening need to be adjusted moderately, and the key resistance level above is near 2350. If the market breaks through 2350, it will turn to a strong shock, and it is unlikely to break a new low tonight.
On the 4-hour chart, the continuous decline has effectively crossed the moving average and the middle track of the Bollinger Band, and led the moving average and the middle track of the Bollinger Band to turn downward in the 2340-2347 area. The indicators of each cycle also followed the turn to short arrangement. The MACD indicator fast and slow lines are glued together with signs of dead cross, the green column potential energy begins to increase, and the KDJ indicator continues to dead cross. Therefore, the overall short position has an advantage at the 4-hour level. Although the positive data of the US market has driven the rise of gold, the market has digested this positive stimulus. Both the daily line and the 4-hour moving average have begun to turn downward, and the rebound space for gold bulls is limited.