Gold double bottom rebound

6 hari yang lalu

The price of gold is currently trading at 2899. From the recent trend, after a sharp decline, the price of gold was supported near $2879.86 and then rebounded. The current price is back above $2900, showing a certain rebound momentum.

Combined with the Fibonacci retracement levels in the figure:

The 0.236 level is at $2889.82;

The 0.382 level is at $2905.66;

The 0.5 level is at $2918.46;

The 0.618 level is at $2931.25;

The 0.786 level is at $2949.47.

The current gold price has broken through the 0.236 position, standing on the $2900 mark, and trying to challenge the 0.382 position ($2905.66). If it can stand firm at $2905 in the future, the gold price is expected to further test $2918 and $2931.

The current gold price has stepped back to the black rising trend line for support and formed a short-term double bottom structure, which provides technical support for the subsequent rebound. At the same time, the horizontal support line forms a key support area around $2879.86. The effective stabilization of this position has laid the foundation for the bull rebound.

In the short term, there is strong pressure above the gold price near $2930, which coincides with the Fibonacci 0.618 position ($2931.25). Therefore, if the gold price rebounds to this area, the bulls may face certain selling pressure.

Combined with the current price trend and technical pattern, the gold trend in the short term is expected to be as follows:

If the gold price stabilizes the $2900 mark and breaks through $2905, it is expected to further test $2918 and $2930.

If the gold price fails to break through $2905, it may fluctuate around $2900 or even fall back to the $2879 area to seek support again.

Operation suggestion: Long strategy:

After stabilizing above $2,900, you can consider going long with a light position, with the target at $2,918-2,930, and the stop loss set below $2,890.

Short strategy:

If the gold price is blocked in the $2,925-2,930 area, you can consider short-term shorting, with the target back to $2,900, and the stop loss set above $2,935.

Overall, the gold price is rebounding in the short term, but the upward pressure still exists. Investors need to pay close attention to the breakthrough of key resistance levels and adjust their operation strategies in time.

6 hari yang lalu

Trade aktif

The gold price quickly fell back to the 2888 line, and the 2900 short position just touched the expected support level of 2890, successfully taking 10 points and achieving a good start this week.

At present, the hourly line bottomed out and rebounded to form a cross star, indicating that the downward space has been recovered to a certain extent, but the short-term pressure level has begun to move down. Therefore, if the subsequent rebound tests the upper pressure level again, the risk of short positions will increase compared with the first time.

For the current market, it is recommended to directly arrange short positions at the 2900-2905 line, with the target first looking at the 2890 line, and continue to pay attention after breaking through the 2880 support level. The specific operation still needs to be flexibly adjusted in combination with the real-time trend during the trading session.

6 hari yang lalu

Trading ditutup: target tercapai

At present, gold has been fluctuating in a narrow range, and the space is not very large. We need more patience to wait for the market to develop in a certain direction. From the current market trend analysis, the overall trend is still bearish, but the downward momentum is weak, and it may fall back to a suitable position in the later period. In terms of operation, we continue to focus on rebound shorting, and the short target tonight is adjusted to 2890.