🔥GOLD IS IN FOR A STORM NEXT WEEK✅

11 May

The trend of gold this week showed an upward trend in the second half of the period, with the weekly closing as a big positive line with some small upper and lower shadow lines. On Friday, we publicly pointed out that short orders were carried out on the 2375-2378 line. As a result, the big negative line once touched 2355, showing a downward trend. Yesterday, gold did not rush higher again in the second half of the night, but reversed downwards, forming a "big positive resistance line" pattern on the weekly chart. This may be a signal of a plunge, suggesting that 2378 is likely to be a stage high. . Although there may still be repeated bullish moves after the big positive line, it will be an excellent short-selling opportunity to test the high again next week. I will choose to play a heavy position, with the lower target pointed at around 2280. Therefore, next week we will continue to focus on high positions, because the rebound of the K line is just for short selling.

The four-hour stochastic indicator temporarily shows a dead cross, but due to insufficient time on Friday and the market was suspended over the weekend, whether the evolution of the four-hour chart will turn sideways will not be determined until next week. The rising point is supported at 2330, which is the key support level for the long-short top-bottom transition. The golden four-hour line deviates far from the moving average. I have always believed that the K-line will return to the moving average. This is an established fact. Overnight, the price of gold showed a bearish top pattern, that is, a large negative line entity surrounded by a positive line entity, forming an obvious downward pattern, which can also be regarded as a top signal. The hourly trend gradually formed a small top shape, and the K line continued to bear pressure on the short-period moving average, indicating that there is still room for adjustment in the short-term trend. Therefore, next week we will continue to focus on short opportunities near 2370.

On the whole, it is recommended that the short-term operation of gold next Monday is mainly to go short on the rebound, supplemented by the long position on the callback. The resistance range of short-term concern at the top is 2370-2372, and the support range of short-term concern at the bottom is 2330-2332.