XAUUSD: Short-term strategy

Gold's daily surge hit the previous high again. After the previous M-top was formed, it retreated and tested the MA10-day moving average at 2877, then stopped at the 7/10-day moving average and continued to open upward. The RSI indicator continued to run above the high of 70, and the daily price structure was running in the bullish trend channel!

The short-term four-hour chart shows that after the price rose again above the 2900 mark, the MA10/7-day moving average formed a golden cross and opened upward and gradually moved up to 2917/23. The price is running in the upper and middle rail channels of the hourly and four-hour Bollinger bands. Today's trading idea is to buy at a low price during the intraday correction, and then consider selling at a high price.

At present, gold is in a slow rise. Judging from the current trend, the bull market pattern has not been destroyed. The daily line maintains a unilateral rise, and the MA5-MA10 moving average maintains a golden cross upward; the weekly line has risen for 7 consecutive weeks, strongly opening the upper rail space of the Bollinger band, and the bullish sentiment is high. Since the key point of 2906 has been successfully broken through and stabilized yesterday, the intraday situation is strong, and the operation still maintains a bullish idea of ​​callback!

From the technical form of the small cycle, the support level is near 2913. It is worth noting that the 1-hour gold price broke through the position of 2913 after the bottom shock and sideways trading. Since 2877, the low point has been continuously raised and the high point has broken upward. As long as the bulls do not lose the support point of 2913 today, the upward direction will not change. Unless the position of 2913 is lost again in the future market, they will consider participating in selling. The bulls pay attention to the pressure of 2940-42.

Key points:
First support: 2928, second support: 2920, third support: 2913

First resistance: 2942, second resistance: 2948, third resistance: 2956

Operation ideas:
BUY: 2913-2915, SL: 2904, TP: 2930-2940;

SELL: 2948-2950, ​​SL: 2959, TP: 2930-2920;