Gold Analysis and Trading Strategy | August 20✅ Fundamental Analysis
🔹 Recently, the Russia-Ukraine conflict has shown signs of easing: Trump stated he hopes to push for an end to the war, and Ukrainian President Zelensky said that talks with the White House were "an important step toward ending the conflict." This signal has reduced geopolitical tensions, thereby weakening gold’s safe-haven demand.
🔹 The market’s focus is now shifting to the Jackson Hole Economic Symposium (August 21–23) and Federal Reserve Chair Powell’s speech this Friday, which will be key events influencing gold’s future trend.
✅ Technical Analysis
🔸 From the 4-hour chart, gold remains in a descending channel, trading below the moving average group with significant bearish pressure. The MACD is still in the bearish zone, although the histogram has slightly contracted, no clear reversal signal has emerged. The KDJ has lifted slightly from the oversold area, suggesting a possible short-term rebound. Overall, gold remains in a corrective downtrend, with limited rebound potential and a higher probability of further decline. The 3311–3315 zone is an important short-term support; if broken, gold may accelerate its drop toward the 3300–3280 region.
🔸 From the 1-hour chart, gold has rebounded from the 3311 low, with improving momentum, currently in a corrective bounce phase. Resistance is concentrated around 3328–3330. Failure to break this level would likely keep the trend bearish. The MA5 and MA10 have formed a bullish crossover, indicating short-term buying momentum. Price has moved above the MA10 and MA20, suggesting a technical rebound, but remains below the MA60, keeping the medium-term trend bearish. Gold is now testing the Bollinger mid-band near 3325, a typical rebound resistance. With Bollinger Bands narrowing, the market may soon choose a direction, currently biased toward weak consolidation.
🔴 Resistance Levels: 3328–3330 / 3335–3340
🟢 Support Levels: 3311–3315 / 3300–3280
✅ Trading Strategy Reference:
🔻 Short Position Strategy:
🔰Consider entering short positions in batches if gold rebounds to the 3327–3330 area. Target: 3305-3295；If support breaks, the move may extend to 3280.
🔺 Long Position Strategy:
🔰Consider entering long positions in batches if gold pulls back to the 3280-3285 area. Target: 3295-3305；If resistance breaks, the move may extend to 3315.
🔥Trading Reminder: Trading strategies are time-sensitive, and market conditions can change rapidly. Please adjust your trading plan based on real-time market conditions.
