Gold analysis on Monday: 2660-2670 tests pressure

vor 3 Tagen

Gold analysis on Monday: 2660-2670 tests pressure
As shown in the figure:
Last week, gold experienced a big market of long and short double kills. On Monday, the Asian session continued to increase the market, which once pulled the gold price above 2650.
The gold trend completely returned to the range of fluctuations: 2620-2670
Today, as the US session is about to open, gold focuses on testing: the pressure around 2660-2670.
Without the boost of major news events, our intraday trading still looks at the range of fluctuations: (2660-2620)
Four-hour cycle: 2620-2660 is still the main fluctuation range at present
Oscillating center: 2645-2650 (Ray A: Still the most effective support line at present)
After today's Asian session trend adjustment: Gold currently stands at 2645 and accumulates momentum for fluctuations below 2660.
Oscillation space: Today, it is arranged around the 2670-2620 range
Still focus on: the pressure performance around 2660
Strategy:
-------------------------
Long-term ideas:
Bottom support: 2630-2640
Breaking pressure: 2645-2650
Upward target: 2660-2670
-----------------------------------------
Short-term ideas:
Top pressure: 2660-2670
Breaking support: 2645-2650
Downward target: 2630-2620
Last week, we said that gold will usher in a large fluctuation. The trend of last Friday and this Monday is obviously a situation of long and short killing.

On December 9, gold did not move in a unilateral market last week. The overall fluctuation was a few tens of dollars. The interweaving of long and short news also made it difficult for gold to break. As for the news this week, it is very scarce. There is basically no focus except for regular data. What needs to be paid attention to is the Middle East and Russia-Ukraine issues. Of course, the political situation in South Korea and France also needs to be paid attention to.
On Monday (December 9), the gold price opened with a continuous roller coaster market of 20 US dollars, which shows the entanglement of the market. Now the market is also waiting for more fundamental catalysts to guide the direction. Against the backdrop of global economic and political uncertainty, the gold market may continue to fluctuate, and the operation will naturally be mainly in the range. However, as far as the current situation is concerned, since the Syrian opposition forces seized control of the capital Damascus on Sunday, and the martial law crisis in South Korea has continued to ferment. The bullish opportunities have increased.
From a technical point of view, at the beginning of this week, gold will temporarily fluctuate around the moving average band. If the market sentiment continues to speculate on risk aversion, then gold may test 2660-70 again, and even 2680 is possible. If the geopolitical situation gradually eases and risk aversion does not heat up, then gold may return to the technically weak trend. Focus on the 20-day line near 2630 below, and still retain the possibility of gold returning to the 2610-00 area before the Fed's interest rate decision next week, and then make a mid-term choice based on whether the Fed will suspend the interest rate cut.

vor 3 Tagen

Trade ist aktiv