XAUUSD: 4/8 Today's Market Analysis and Strategy

Updated
Gold technical analysis
Daily resistance 2550, support below 2450
Four-hour resistance 2496, support below 2450

Gold operation suggestions: After a series of shocks, the short position of gold finally exerted its strength yesterday, and the lowest price in the US market reached around 2473. The Labor Day holiday on Monday also directly stimulated the outbreak of long and short energy in the later period. This week is also the NFP data week. With the release of NFP data, the volatility and long and short trends of gold in the later period will also change further. The previous low point is maintained at 2470, and yesterday's retracement touched the lowest level near 2473 and rebounded, but did not break down. Then this position can still bring certain support to the bulls, and the key suppression point above is maintained near the top and bottom conversion area of ​​2507. Before NFP is released, it is still expected to be short in the short term and cannot change its trend.

From the 4-hour analysis, the current upper resistance focuses on the 2496-2505 line. The pullback continues to be bearish based on this position. The short-term gold price long and short strength dividing line focuses on the 2515 mark. Before the daily level breaks through and stands on this position, any rebound is a short-selling opportunity, and keep trading with the trend.

SELL:2496near SL:2500
SELL:2508near SL:2511
SELL:2525near SL:2529

The strategy only provides trading directions.
Since it is not a real-time trading guide, please use a small SL to test the signal. snapshot
Trade active
The most active gold futures contract on COMEX was traded 3,535 lots in one minute from 10:00 to 10:01 on September 4, NY time, with a total contract value of US$893 million.
Fundamental AnalysisgoldintradaygoldminersTrend AnalysisWave AnalysisXAUUSDxauusdanalysisxauusdupdates

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