2.17 Analysis of gold trend

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2.17 Analysis of gold trend

Analysis of key technical signals
Weekly and daily patterns

Weekly: high and low, upper shadow crosses and closes, upper resistance is strong (near 2942), bulls fail to continue to break through.

Daily: The middle Yin line engulfs the first two Yang lines, forming a short-term reversal signal, and the MACD high-level dead cross begins to appear, suggesting an increase in the demand for callbacks.

Moving average and support pressure level:
Breaking the key moving average: Gold broke the MA5 and MA10 moving average support, and the short-term trend turned from strong to weak. It is necessary to pay attention to whether the 2864 low support is effective.

Resistance and support: 2905 above (top and bottom conversion position) is the rebound pressure. If it falls below 2864, it may trigger a double top pattern, looking down to around 2834.

4-hour chart double top risk

Plate and indicators: The prototype of a double top is formed near 2942, and the MACD dead cross confirms the short momentum. The neckline 2864 is the key watershed. After the breakout, the theoretical decline can be seen to the 2780 area (calculated based on the height of the pattern).

Operation strategy and risk management
Core idea: In the short term, rebound high and empty are the main focus, and light positions are used to try long positions at key support levels, with strict stop losses.

Short order strategy

SELL: 2903-2905

TP: 2885-2870-2865

SL: 2912

Long order strategy

Entry: Try long positions when the price callbacks to around 2864-2866, with a position not exceeding 10%.

Target: 2875-2885, and a breakout can be seen at 2895.

Stop loss: 6 points below 2860 (to prevent a breakout and decline).

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