2.16 Gold Analysis Next Monday

2.16 Gold Analysis Next Monday
Gold prices fell sharply after hitting the previous high on Friday, and the weekly line closed with a long upper shadow positive line, showing a certain upward pressure.
Due to the weak closing, there was no rebound, and it is expected that there will be a demand for further declines next week.
The weekly support is around 2856. In the daily cycle, Friday closed with a large negative line, and it was a bald negative line, indicating that there may be a low point next week.
However, the current price has reached the lower track support level of 2880. If the support is not broken, there may be a rebound on Monday.

Key points:

Weekly support: 2856

Daily support: 2880

Daily pressure: 2920

Small cycle pressure: 2902

Operation suggestions:
Short order strategy:

Entry point: around 2902

Stop loss: 2910

Target: 2880, 2860

Long order strategy:

Entry point: when the 2860-2855 support is not broken

Stop loss: set according to personal risk tolerance

Target: set according to the rebound strength

Notes:
News impact: need to pay close attention to market news, especially economic data or geopolitical events that may affect the gold price.

Rebound strength: If the rebound strength is large, it may be necessary to adjust the short order strategy to avoid counter-trend operations.

Support and pressure: 2880 and 2856 are key support levels, 2920 and 2902 are key pressure levels, and the price reaction at this position will determine the subsequent trend.

Overall, gold may continue to adjust next week, but there is also a possibility of a rebound near the key support level.
It is recommended to respond flexibly according to the strength of the rebound and the performance of the support and pressure levels.
I will continue to pay attention to the market after the opening of Monday. Thank you for your attention and comments.