Gold Technical Analysis, March 6

📊Recently, the price of gold has been volatile, and the bull-bear game is fierce. Yesterday, the daily line closed with a cross star. Although the data was bullish for gold, the price did not rise sharply. Instead, it rebounded in a V-shaped manner after a dive in the late trading. Gold refreshed the recent high of 2929, but failed to continue the upward trend and continued to hover at a high level.

📊Daily level: The large V-shaped reversal of the daily line confirmed the bullish trend, and it is expected that the market will continue to follow this trend. The bulls still have upward momentum, but the data is intensive this week, and the upward trend is expected to be repeatedly pulled and will not be achieved overnight.

📊1-hour level: Gold is still in a large range of fluctuations at the 1-hour level, and the bulls have not completely dominated. 2890 is the key support for today's European and American sessions. If it falls below this level before the US session, it may further drop to the 2880-2878-2864 line, which is a relatively safe entry and long opportunity.

🔴Upper resistance level:
-First: 2927-2930
-Second: 2940-2950

🟢Lower support level:
-First: 2895-2890
-Second: 2880-2878
-Third: 2864

📛Risk management
✅Gold is currently in a high consolidation stage, and the bullish trend is clear but the rise may be repeated. In terms of operation, it is recommended to mainly go long on pullbacks, pay attention to key support and resistance levels, and be cautious in dealing with possible adjustment risks.
✅Trading strategies are time-sensitive. We will adjust trading strategies in real time according to market changes. Please pay attention.