Gold Technical Analysis, February 25

📊Daily level: Gold prices continue to be bullish, MA5/10 system maintains a 45-degree upward angle,
Yesterday closed with a full-bodied positive line, the closing price stood above the Fibonacci 61.8% retracement level (2925), MACD indicator double lines flattened above the zero axis, the momentum column increased moderately, indicating that bullish momentum still exists.

📊Hourly chart structure: an ascending wedge formation is formed, currently at the fourth test of the upper rail pressure level (2962), the three Bollinger Bands are flattening (2930-2958), the price builds a support platform along the middle rail (2944), the KDJ indicator has fallen back from the overbought zone, and now forms the prototype of a golden cross near the 50 central axis.

🔴Upper resistance level:
-First: 2956
-Second: 2962
-Third: 2978

🟢Lower support level:
-First: 2930
-Second: 2924
-Third: 2912

✅Intraday trading strategy:
🔰Long strategy:
--Steady long order: build positions in batches in the 2930-2932 range, stop loss 2918, target 2950-2962
--Breakthrough chasing long: add positions after effectively standing at 2962, stop loss 2955, target 2978

🔰Short strategy:
--Technical short-term short order: layout in the 2958-2962 range, stop loss 2968, target 2945
--Trend reversal short order: effectively break below 2918 and then pull back to enter the market, stop loss 2928, target 2890

📛Risk management
--The long lower shadow candlestick appeared for three consecutive trading days, indicating strong low-level support
--The volume decreased during the adjustment (the cumulative volume decreased by 23%), which is in line with the characteristics of a healthy correction
--Overnight New York session large order trading data showed that there was a cluster of institutional limit buy orders below 2930
--The futures position report showed that the speculative net long position reached the historical 85% percentile.