2630~2665 range sell high buy low

8 Jan

Gold rose strongly yesterday. Many people may have started to chase more gold. However, gold fell back under pressure at 2664, reaching the previous high point. This position is also an effective point for the continuous suppression of shorts in the near future. With the strong rebound during the day, it also reached this position, but it is very likely to form a triple top pattern!

The daily line tested the MA60 daily moving average at 2664 and then fell back. With the negative news data, a waterfall formed to reach 2642. Today's operation maintains high selling and low buying!

There are too many data in the second half of this week. Before the range is broken, it is still difficult to have a large unilateral market. The bulls cannot rise further. The gold bulls did not break through in one fell swoop, and the rebound high continued to be short.

Gold continues to fluctuate in a large range in 1 hour. If it rebounds high, don't continue to chase it. The short-term gold 1-hour line has double tops. If gold no longer breaks through the new high, then the double top of gold will continue to fall under pressure. Gold rebounds to 2665 in the Asian session and continues to sell at highs!

First support: 2640, second support: 2632, third support: 2615

First resistance: 2656, second resistance: 2665, third resistance: 2683

Operation ideas:

BUY: 2635-2638,

SELL: 2663-2665,

8 Jan

Order dibatalkan

During the day, I held the support of 2642, but failed to break through the second test. I held here and counterattacked, and the ADP data was bullish. Gold broke through 2655 and continued to rise to the current line of 2665. 2665 has been tested many times, and the breakthrough was only one step away. If there is no clear signal of stagflation in gold currently, don’t sell it.