Gold 2.14 Analysis

14 ก.พ.

Gold is currently in an upward channel. After the price was supported by the lower track of the channel, it fluctuated upward all the way and is now close to the middle track of the channel and the upper resistance area. In the short term, the price is expected to continue to run in the channel, and the upward trend is not broken.

Among them, the area near 2,931 is the current price trading area, which has a strong support and pressure dual role. Once the pressure here is broken, gold is expected to continue to rise and test 2,949 and the previous high of 2,972. The lower support focuses on 2,918, 2,905, and 2,889. If the price falls below the callback level, it may step back to the lower track of the channel and test 2,905 or even lower.

The MACD indicator shows that the fast and slow lines are currently in a state of adhesion, and the red and green columns have weak kinetic energy. The market may fluctuate and consolidate in the short term. But the overall situation is still above the zero axis, and the trend is still strong.

If the price breaks through the upper pressure of US$2,931, it may further attack, with the target pointing to US$2,949 or even US$2,972.
If the price is blocked and falls back, there is support near $2,918 below. Once it falls below, it may test $2,905 or even the lower track of the channel.

Radicals: Go long with a light position when it pulls back to the $2,918-2,905 area, and place the stop loss below $2,889, looking at $2,949 and $2,972.
Conservatives: Wait for the price to break through $2,931 and then step back to confirm support, and then consider going long with the trend, with the target also looking at $2,949 and $2,972.

In summary, gold is currently maintaining a volatile upward pattern. Although there is a short-term correction pressure, the overall bulls still have the upper hand. Pay attention to the gains and losses of key support and pressure levels to seize the opportunity to trade with the trend.

14 ก.พ.

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