Will gold continue to fall? Today's price trend analysis

28 May

Gold daily level includes a big negative line, the high price did not break the previous high, the low price broke the previous low, and there was a tail trend, indicating that the gold short position is relatively strong. In the short term, gold stabilized and fluctuated around $3285, and tested upward many times. At the same time, it opened low at $3292 today and then rose. The bull market is expected to continue in the future.

Gold 4-hour level is not so strong at present. The market encountered resistance and fell back at the upper track. Now the market has touched the lower track. The Bollinger Bands have not opened and are still flat, indicating that the market is in a volatile trend in the short term. The support below 3280 just coincides with the lower track. The upper side pays attention to the resistance near the middle track of 3325. If the pressure near the middle track 3325 is broken, it can be seen to the upper track 3365. Then, considering this market situation comprehensively, the view is relatively clear. This week, the gold week will see a correction at the beginning, and it will start to see a stabilization and rise after Wednesday, but the rise should be seen in stages. The target of the rise is 3365 first, and the breakthrough is 3400. If the market breaks below 3280, then the market will weaken. Intraday trading, 3280 is used as defense to see a rebound, and attention is paid to the short-term breakthrough of 3325.

Overall, the decline of gold just touched the previous support level, and there is a probability of stabilization. Today's operation considers buying first in the retracement layout, and selling at high levels as a supplement. Pay attention to the resistance of 3315-3320 US dollars on the top, and pay attention to the support of 3280-3275 US dollars on the bottom.

Gold strategy:

Buy range: 3280-3275, SL: 3270, TP: 3300-3310

Sell range: 3315-3320, SL: 3330, TP: 3300-3290

Key points:

First support: 3280, second support: 3275, third support: 3265

First resistance: 3315, second resistance: 3320, third resistance: 3330

Share my views for free every day

28 May

Not

News: The international gold market suffered a sharp sell-off on Tuesday, and the spot gold price once fell below the 3,300 mark as the US dollar index rebounded from a low of more than one month and concerns about the international trade situation cooled down. The market continues to focus on the international trade situation, the prospects of US fiscal policy and the prospects of the Federal Reserve's monetary policy. At present, the gold price is in a wide range of consolidation and needs to wait for the next key information catalyst to trigger a breakthrough and a more sustained trend. On this trading day, investors will usher in the minutes of the Federal Reserve meeting, which is expected to trigger a big market in the gold market.

Technical side: On the daily chart of international spot gold, the moving average system shows a certain entanglement, and the 5-day moving average and the 10-day moving average are intertwined, showing a balance of short-term long and short forces. The red kinetic energy column of the MACD indicator has shortened, indicating that although the bullish force is still dominant, the strength has weakened. On the weekly chart, the overall gold price is in an upward channel, and the long-term upward trend has not changed, but the price has recently encountered resistance near the upper track of the channel. It is necessary to pay attention to whether it can effectively break through to open up new room for growth. The short-term important pressure position is around 3323; if it breaks, it will go up to around 3333-3345; the key support position below is the support band of 3290; if it breaks, it will go down to 3280-3260! Comprehensive analysis: It is expected to operate in the range of 3290-3350 in the evening. Personally, I suggest buying at low levels as the main strategy and selling at high levels as the auxiliary strategy! GOLD watershed: 3323 US dollars

28 May

Not

My selling strategy has been profitable and I hope you have checked out my analysis.