Gold Focuses On The 2555-2530 Range

14 Kas 2024

🔶In the early European session on Thursday, gold prices continued to fall and have now fallen below the key support level of $2,550, hitting a two-month low. In the short term, the gold market is affected by the strength of the US dollar and expectations of US economic data, and the technical side gradually tends to be bearish.

🔶Gold prices have closed negative for four consecutive days, indicating that the current bearish forces dominate the market. On the daily chart, gold prices fell below multiple moving average supports, especially the 10-day and 20-day moving averages crossed downward, indicating that the bearish trend is further consolidated. The MACD indicator showed a dead cross signal, and the red column shortened, indicating that the downward momentum is strengthened. If the gold price stabilizes below 2,550, the downward target will further point to the 2,530 first-line support level.

🔶On the 4-hour chart, the gold price showed a downward step pattern. Multiple rebounds failed to break through the previous high, indicating that the rebound momentum is insufficient in the short term. The current gold price is still running near the lower track of the Bollinger Band, and the downward opening of the Bollinger Band track shows that the bearish trend continues. The 4-hour moving average system is in a short position, especially the 5-day and 10-day moving averages suppress the price. If the gold price cannot return to above 2560, the weak trend may continue. The MACD kinetic energy column is green, and the KDJ indicator continues to move downward, showing that the short position has a clear advantage.

🔶In the 1-hour chart, the gold price is blocked below the last low of 2550, and there is no obvious support signal in the short term. The moving average system shows a short divergence pattern, indicating a strong downward trend. The MACD indicator continues to run below the zero axis, and the KDJ crosses downward, indicating that the downward pressure is large. If the early rebound is blocked below 2555, the gold price will continue to fall in the short term and may test the support near 2530. In terms of trading, it is necessary to keep a close eye on the breakthrough of the 2530 support and 2555 resistance range, and pay attention to the important economic data to be released by the United States and the speeches of Federal Reserve officials to avoid fluctuations caused by the data.

🔶Trading strategy recommendations
🟢Short strategy: It is recommended to short with a light position when the price rebounds to the 2555-2560 area, with a target of 2530 and a stop loss set above 2565.
🔴Long strategy: If the gold price hits 2530 and stops falling and stabilizes, it is appropriate to go long with a light position in the short term, with a target of 2550 and a stop loss set below 2525.

14 Kas 2024

İşlem aktif

GOLD SELL @ 2552-2555

⛔️SL 2565

🎯TP 2540