Gold is trading sideways, with a trading range of 2890~2930

Gold has maintained a volatile pattern in the past two days, and the long-short game is also quite fierce. The current rise and fall of gold have not continued. It did not continue after piercing 2928 on Wednesday, and it did not continue after piercing 2894 on Thursday. The hourly and four-hour cycles are very obvious, both are horizontal structures, and the price fluctuates repeatedly and goes through a roller coaster situation!

In this case, you cannot blindly follow the trend, it is easy to lose money on both ends, and this trend will be maintained before NFP. The choice of direction depends on the impact of Friday's NFP data. For the daily cycle, the moving average of last week's sharp drop was a dead cross downward, but after the strong rebound this week, it is currently in a horizontal flat state. There is no clear direction after the sharp drop and rise, and it is more based on the shock for the time being!

Today, the US market will release NFP data at the opening, and the market estimate gives a small negative impact on gold and silver. It is Friday again, especially for short-term trading, be careful of the Black Friday market! The shock range is 2890-2930. Note that the market will move out of the direction after the breakthrough.

Gold fell rapidly in the Asian session today, but it still failed to continue today. It still fluctuated during the session. Although the low point has been extended, it seems to be fluctuating and weakening on the market, but in fact it is the market washing. The repeated fluctuations of the bullish trend at high levels are actually a manifestation of seeking breakthroughs! If you want to layout in the later stage, you should first consider buying at a low point when it falls back!

At present, the market high point pressure is very clear. The 2930 line is still an insurmountable pressure in the short term, and the most controversial is the support below, because it is in a state of continuous downward exploration, but from the recent trend, each low point refresh is only a few US dollars of space downward. Gold will not continue in the near future. Obviously, the support level is the low point of the previous wave as a reference! In the case of the general direction is still bullish, only waiting for a fall to buy is to follow the mainstream of the market!

Gold is still fluctuating in a large range in 1 hour. The bulls do not have a completely strong market. The bulls and bears are repeatedly tug-of-war. At present, gold should be careful of the bulls' risk aversion sentiment to ease and start a large adjustment. In the later stage, focus on the support level of 2890 to layout long positions, and focus on the pressure level of 2930 above!

Key points:
First support: 2900, second support: 2892, third support: 2878

First resistance: 2918, second resistance: 2928, third resistance: 2936

Operation ideas:
Buy: 2888-2891, stop: 2880, target 2910-2920;

Sell: 2925-2928, stop: 2936, target 2910-2800;