XAUUSD: 16/5 Today’s Analysis and Strategy
Gold technical analysis
Daily resistance is 2400, support below is 2373-35
Four-hour resistance is 2400, support below is 2384-73
Gold operation advice: Yesterday, gold relied on the 2350 mark to continue the strong bullish fluctuations and rose, and finally broke through and surged. After the opening of the Asian and European markets, the bulls fluctuated upwards and strengthened. Before the US market, the gold price dipped for the second time and stabilized at the 2358 mark. Under the influence of bullish CPI data, the gold price quickly It surged above 2378 and suppressed the fall. Afterwards, the gold price dipped for the second time and stabilized again at the 2351 mark, ushering in a strong bullish straight-line breakthrough, and finally closed above 2390. The daily level continued to be strong, maintaining the unilateral upward rhythm of the bulls.
Judging from the current trend, today's lower support will focus on the hourly top-bottom transition position around 2384-73. If you step back during the day, you will rely on this position to continue to follow the trend. The bullish trend remains unchanged. The strong dividing line for short-term bulls will focus on the 2373 mark. When the daily level stabilizes above this position, the strong bullish rising rhythm will still be maintained. The main focus is to continue to buy at low prices to participate after stepping back.
BUY:2384near SL:2380
BUY:2373near SL:2370
Technical analysis only provides trading direction!
Daily resistance is 2400, support below is 2373-35
Four-hour resistance is 2400, support below is 2384-73
Gold operation advice: Yesterday, gold relied on the 2350 mark to continue the strong bullish fluctuations and rose, and finally broke through and surged. After the opening of the Asian and European markets, the bulls fluctuated upwards and strengthened. Before the US market, the gold price dipped for the second time and stabilized at the 2358 mark. Under the influence of bullish CPI data, the gold price quickly It surged above 2378 and suppressed the fall. Afterwards, the gold price dipped for the second time and stabilized again at the 2351 mark, ushering in a strong bullish straight-line breakthrough, and finally closed above 2390. The daily level continued to be strong, maintaining the unilateral upward rhythm of the bulls.
Judging from the current trend, today's lower support will focus on the hourly top-bottom transition position around 2384-73. If you step back during the day, you will rely on this position to continue to follow the trend. The bullish trend remains unchanged. The strong dividing line for short-term bulls will focus on the 2373 mark. When the daily level stabilizes above this position, the strong bullish rising rhythm will still be maintained. The main focus is to continue to buy at low prices to participate after stepping back.
BUY:2384near SL:2380
BUY:2373near SL:2370
Technical analysis only provides trading direction!
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