2.14 Gold bulls return strongly, focusing on 2938 resistance today
Yesterday's review:
After repeated fluctuations, gold formed an upward trend, and the US market suppressed a wave of decline to 2906 at the upper limit of the hourly chart. At the end of the day, it broke through again and pulled to the four hour upper limit of 2928, closing at a high level.
From the overall trend, the daily chart has broken through the second rebound high of 2929.5, which fell last week. The bullish trend is still strong. Today, we will focus on the four hour acceleration line 2938 above to suppress it. Once this level breaks through again, it means that the high point will be broken. However, we cannot blindly be bullish. After all, being close to the acceleration line indicates that the bulls have entered the risk zone. Even if they are bullish, they will enter the market. Secondly, we will wait for four hours for a second bearish turn. On Tuesday, they rose and fell back to the bottom line support, and yesterday they returned to the upper line. In the morning, they pierced the bottom line support, and yesterday they returned to the bottom line support for 30 minutes twice. In the evening, they reached the 26 hour antenna support. Today, two cycles resonate here, so even if there is a lot of decline, it will at least K can enter the site, After breaking down, the support is 2912-2900. When breaking up, the suppression is 2954-66. Therefore, in summary, the following ideas are given for today:
Operation strategy: Fall back by more than 2918-19, defend 14. Target 2930-38 breaks the level and looks at 48-54-66. As for the suppression of the bears, focus on 2938. There are two situations: one is to suppress in place and cooperate with the hourly chart and 15 minute weak bearish signals to enter the market; the other is to rise and fall, mainly closing in four hours and closing below 38. Other point operations are recommended to be adjusted flexibly according to the intraday trend.
Risk statement
The market fluctuates greatly, it is recommended to control positions and strictly cut losses.
The above analysis is for reference only and does not constitute investment advice.
Flexibly adjust operational strategies based on intraday trends.
The above ideas are for reference only. There are risks in the market, and investment needs to be cautious.
Tips:This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement:Contact us if the content violates the law or your rights