Gold turns at a high level, can it return to the channel

6 Feb

Gold prices have continued to rise from a low level and are currently running in an obvious rising channel. Prices have fluctuated between the upper and lower tracks of the channel many times, reflecting strong technical support. Recently, the price reached the 2880 line and then fell back, forming a sign of high-level fluctuations. In the short term, the gold price is near the upper track of the channel and may face certain correction pressure.

From a structural point of view, the price is blocked near the upper track of the channel. Combined with the stagflation signal of technical indicators, there is a need for downward adjustment in the short term. The adjustment target area can focus on the top support of the channel, that is, the 2850-2860 line, which is also an important support area confirmed many times in the previous period. Once the price stabilizes in this area, it may reopen the upward trend, test the upper 2880 or even break through the impact of the 2900 line.

On the other hand, if the price falls below the top of the channel, it needs to be treated with caution, which may mean a trend reversal and the market needs to be re-evaluated. The current high area of ​​2870-2880 can be regarded as a potential area for short-term short-term layout, but risks need to be strictly controlled, and the stop loss is recommended to be set above 2890.

In the medium and long term, the overall trend of gold is still strong, and it runs well after the channel breakthrough. You can choose to arrange long orders when it pulls back to the key support area, and the target can be 2900-2920. However, it is necessary to pay close attention to the impact of macroeconomic factors and the trend of the US dollar, which will be the key to whether gold can continue to rise.

In summary, the overall trend of gold is currently bullish, and there is a need for adjustment in the short term. The investment strategy recommends combining the channel structure, mainly buying on dips, and cautiously trying to short at high levels to cope with possible shocks and fluctuations.

6 Feb

Dagangan aktif

The upper edge of the gold channel is adjusted higher. The overall trend is still bullish. The current correction is below the 2860 first-line support.
Gold buy 2860
SL 2845
tp 2873
tp 2885