Gold retreats today and continues to be bullish, trend analy
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Concerns caused by the Russia-Ukraine conflict and the situation in the Middle East have subsided slightly, while hawkish speeches by Federal Reserve officials have slightly dampened expectations for an interest rate cut by the Federal Reserve in June, causing gold bulls to retreat. Regarding last week's rally, Phillip Streible, chief market strategist at Blue Line Futures, said there was too much capital inflow and everyone was chasing higher, which along with strong central bank buying and speculative buying helped gold prices.
Affected by the decline in risk aversion over the weekend, gold prices opened lower in early trading on Monday and stopped falling near the 2300 mark in the short term! And this happens to be consistent with the trend we expected last week. Although the market fundamentals are showing an improving momentum, from a technical point of view, the lower support is still in an effective state, and the short-term gold price will still rise after stabilizing.
Looking at the gold weekly chart, in the weekly K, the stochastic sub-table passivates the golden cross state; after three consecutive positives in the form, the weekly K tends to adjust the signal; this week is expected to close the negative form, forming a continuous adjustment; BOLL's track support At the upper and lower positions of 2265. The golden cross of the daily K stochastic indicator is upward, and there is no dead cross yet. If the dead cross is established, it will gradually adjust; after the big positive line breaks, it will open lower today and the direction will be adjusted; in 4 hours, the mid-track support position is around 2290; the first short-term Support around 2300; the lower track support position gradually moves up, and is expected to move up to around 2265 in the later period; in the 1 hour, it is temporarily high and falls downward, and it will step back to the top and bottom to convert the support around 2300; further support position is 2300-2290, followed by 2265 These three supports;
Taken together: Today's short-term operations of gold continue to be mainly bullish. The price of gold continues to hit record highs. In the strong market, before there is a top adjustment pattern of rising higher and lowering, it will maintain an upward trend. It is strong. Just go with the trend. The bottom will first focus on the support of 2300, and the top will focus on the pressure of 2340-2350.
Gold operation strategy:
For gold, it is recommended to go long at 2320-2322, stop loss at 2314, and target 2330-2340;
Daily gold operation suggestions, gold analysis, latest operation strategies, enter my channel to publish free trading signals every day.
Affected by the decline in risk aversion over the weekend, gold prices opened lower in early trading on Monday and stopped falling near the 2300 mark in the short term! And this happens to be consistent with the trend we expected last week. Although the market fundamentals are showing an improving momentum, from a technical point of view, the lower support is still in an effective state, and the short-term gold price will still rise after stabilizing.
Looking at the gold weekly chart, in the weekly K, the stochastic sub-table passivates the golden cross state; after three consecutive positives in the form, the weekly K tends to adjust the signal; this week is expected to close the negative form, forming a continuous adjustment; BOLL's track support At the upper and lower positions of 2265. The golden cross of the daily K stochastic indicator is upward, and there is no dead cross yet. If the dead cross is established, it will gradually adjust; after the big positive line breaks, it will open lower today and the direction will be adjusted; in 4 hours, the mid-track support position is around 2290; the first short-term Support around 2300; the lower track support position gradually moves up, and is expected to move up to around 2265 in the later period; in the 1 hour, it is temporarily high and falls downward, and it will step back to the top and bottom to convert the support around 2300; further support position is 2300-2290, followed by 2265 These three supports;
Taken together: Today's short-term operations of gold continue to be mainly bullish. The price of gold continues to hit record highs. In the strong market, before there is a top adjustment pattern of rising higher and lowering, it will maintain an upward trend. It is strong. Just go with the trend. The bottom will first focus on the support of 2300, and the top will focus on the pressure of 2340-2350.
Gold operation strategy:
For gold, it is recommended to go long at 2320-2322, stop loss at 2314, and target 2330-2340;
Daily gold operation suggestions, gold analysis, latest operation strategies, enter my channel to publish free trading signals every day.
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