Gold bottomed out and rebounded yesterday, and rose sharply in the late trading, approaching the resistance of 2578! The daily MA5 moving average moved down to 2583, the four-hour MA10 moving average was 2570, and the lower track of the Bollinger band was 2588. The top and bottom conversion position of the previous low was 2590, and the hourly RSI indicator returned to the central axis. The upper track of the Bollinger band closed at 2580 and the lower track was 2545. The intraday trading range oscillation idea layout, short-term participation in short-selling, long-term bullish.
The gold 1-hour moving average continued to cross the short arrangement, and the gold moving average resistance now moved down to around 2580. Gold began to fall under pressure at 2578 in the US market yesterday. Today, the Asian market rebounded to around 2580 and can enter the market.
First support: 2556, second support: 2545, third support: 2530
First resistance: 2580, second resistance: 2590, third resistance: 2605
Trading strategy:
You can sell high and buy low near the first resistance 2556 and the first support 2580. If the NY session fluctuates greatly, pay attention to the second resistance and support