GOLD TREND IS BEARISH

The daily chart of gold shows a pattern of yin and yang conversion. Therefore, it is necessary to guard against the market rising and falling, or falling directly near the previous high. The upper resistance is at yesterday's high point. At present, gold is still fluctuating in the range of 2286-2341, and the low point gradually moves up and the high point gradually moves down. As the range continues to narrow, it will eventually usher in a round of substantial breakthroughs.

From the four-hour chart, the rebound high point gradually decreases, and the overall trend tends to fluctuate downward. At present, the gold price is running near the middle track of the Bollinger Bands. The KDJ crosses downward after the death, and the DIF line of the MACD sticks above the DEA line, and the short-term trend is bearish.

Gold has recently fallen into a bearish pennant pattern, so it needs to fall below 2300 to activate the negative effect of this level, and then it is expected to fall to the next bearish target of 2272.06, which is the 38.2% Fibonacci retracement level of gold from $1984.16 to $2450. Therefore, as long as gold remains below $2340.10, we will continue to be bearish on gold. In this case, gold is expected to test $2385 first.

On the whole, today's short-term gold operation advice is mainly to go short on rebounds, supplemented by longs on callbacks. The top short-term focus will be on the 2334-2336 resistance range, and the bottom short-term focus will be on the 2305-2308 support range.

Comment:

Gold Trading Strategies Reference

🎯Strategy 1: Go short when gold rebounds to around 2330-2332, stop loss 6 points, target around 2320-2315, break the position and look at the 2310 line✅

🎯Strategy 2: Go long when gold pulls back to around 2308-2310 , stop loss by 6 points, target around 2320-2325, and look at the 2330 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:

On the 4-hour chart, the previous continuous decline combined with the recent rebound, the current focus is on the breakthrough direction of the future market. The recent rebound has formed a short-term upward channel. If the subsequent market breaks through the lower track of the Bollinger Band, the bears may go out of the continuation of the falling flag pattern, then the market trend continues to be bearish, we can follow the trend to arrange short orders; if the market breaks through the upper rail resistance upward, does not form a flag pattern, but goes into a double bottom pattern, then there is still room for continued rebound in the short term. Therefore, do not blindly chase orders when operating, and pay attention to the breakout situation first.

From the 1-hour chart, gold is still in a wide range of fluctuations. The rebound of gold during the US trading session can still be considered shorting. Today's rebound high at 2335 is still a good time to short. If gold cannot break through the upper resistance level, then the short trend is still valid. At present, It can be considered that gold is still in the intermediate consolidation stage of decline.

Comment:

Gold Trading Strategies Reference

🎯Strategy 1: Go short when gold rebounds to around 2355-2358, stop loss 6 points, target around 2345-2340, break the position and look at the 2335 line✅

🎯Strategy 2: Go long when gold pulls back to around 2333-2335 , stop loss by 6 points, target around 2345-2355, and look at the 2360 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:

From the one-hour pattern, the recent trend of gold is always in a pattern of continuous fluctuation and rise. Although the rise is small, the rise is very firm. Because it is a fluctuating rise, short-term operations should avoid chasing ups and downs. Going long on intraday declines is a feasible operation idea.