In today's market, opportunities for both bulls and bears emerge in turn. True trading is not about chasing prices after a trend begins, but about making plans and preparations before the trend arrives. The market changes every day, but trading logic should not follow the crowd. Planning ahead, executing with the trend, and responding flexibly are the keys to maintaining a stable rhythm in complex market conditions. With a clear mind, trading will naturally be more relaxed.
Gold Price Analysis: Gold briefly rebounded at the open yesterday, testing the 4200 level again but failing to hold. The price then continued to fluctuate and correct, retreating below 4130 before rebounding again, but stopping at 4170. The daily chart ultimately closed with a small bearish doji. From the daily chart structure, yesterday's doji indicates a pause in the short-term rebound, which is in line with expectations. However, the main price structure remains above the moving average band, suggesting a potential shift towards a slightly stronger short-term trend. Nevertheless, considering the relatively small short-term volatility, it's unlikely to change the medium-term bearish trend of gold, and the medium-term fundamentals... Market expectations are also more bearish for gold, so the current pullback in gold may only be short-term, a correction of last week's gains. Further confirmation is needed. Technically, continue to watch the battle around the 5-day and 10-day moving averages at 4130 and 4070. If gold can hold above these levels in the short term, there is still a possibility of upward movement, but the upside potential will be limited. If the price falls back below the 5-day and 10-day moving averages in the short term, gold's weakness will be fully apparent, and the possibility of further downward movement will be greater.
Looking at the hourly chart, yesterday's gold price correction and rebound were basically synchronized with the US dollar index, moving in the opposite direction. However, today's further decline in gold appears somewhat independent. This kind of market movement is emotionally driven and further illustrates that the current gold price increase is weak, with sentiment leaning more towards a bearish correction. Combining the daily and hourly charts, we will continue to focus on the 4120-4100 area for intraday support, but the 4090 area is technically more worthy of attention. Therefore, we will continue to regard the 4120-4100 area as a key short-term support level for intraday trading. Intraday, the focus remains on the 4180-4200 range. If gold fails to break above this level today, the short-term rebound may come to an end, and the price may return to a weak and volatile trend.
Today's trading strategy: It is recommended to short in batches around 4180-4200, and to go long in batches if it pulls back to around 4120-4100.
Gold Price Analysis: Gold briefly rebounded at the open yesterday, testing the 4200 level again but failing to hold. The price then continued to fluctuate and correct, retreating below 4130 before rebounding again, but stopping at 4170. The daily chart ultimately closed with a small bearish doji. From the daily chart structure, yesterday's doji indicates a pause in the short-term rebound, which is in line with expectations. However, the main price structure remains above the moving average band, suggesting a potential shift towards a slightly stronger short-term trend. Nevertheless, considering the relatively small short-term volatility, it's unlikely to change the medium-term bearish trend of gold, and the medium-term fundamentals... Market expectations are also more bearish for gold, so the current pullback in gold may only be short-term, a correction of last week's gains. Further confirmation is needed. Technically, continue to watch the battle around the 5-day and 10-day moving averages at 4130 and 4070. If gold can hold above these levels in the short term, there is still a possibility of upward movement, but the upside potential will be limited. If the price falls back below the 5-day and 10-day moving averages in the short term, gold's weakness will be fully apparent, and the possibility of further downward movement will be greater.
Looking at the hourly chart, yesterday's gold price correction and rebound were basically synchronized with the US dollar index, moving in the opposite direction. However, today's further decline in gold appears somewhat independent. This kind of market movement is emotionally driven and further illustrates that the current gold price increase is weak, with sentiment leaning more towards a bearish correction. Combining the daily and hourly charts, we will continue to focus on the 4120-4100 area for intraday support, but the 4090 area is technically more worthy of attention. Therefore, we will continue to regard the 4120-4100 area as a key short-term support level for intraday trading. Intraday, the focus remains on the 4180-4200 range. If gold fails to break above this level today, the short-term rebound may come to an end, and the price may return to a weak and volatile trend.
Today's trading strategy: It is recommended to short in batches around 4180-4200, and to go long in batches if it pulls back to around 4120-4100.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.