Sell gold 2631 directly, key position!!!
May everyone's dreams come true and happiness always accompany them in the new year of 2025! All wishes can come true, and all efforts can bear fruit!
During the New Year holiday, the gold market is closed all day. Gold rose slightly to around 2612 in the morning and then fell back after being blocked. In the afternoon, it hit a low of around 2602 and began to rise in the evening. In the early European session, it rose to around 2618 and then fell back. In the US session, it hit a low of around 2605 and quickly rose, reaching a high of around 2628 in the early morning. The daily chart closed with a bullish line.
After experiencing a decline in gold prices on Monday, the market turned around on Tuesday, with gold prices closing positive and rising, forming a trend of bullish and bearish. At the same time, the 5-day moving average crossed with the 10 day moving average, and at the opening today, the gold price opened above the moving average. The primary focus of the day is whether the current upward trend in gold can continue.
From the resistance level above, the first thing to focus on is the resistance of the weekly MA5, which is currently around 2630. Last week, the MA5 moving average of the gold uptrend was blocked and fell back, which is undoubtedly a key defense line. Secondly, pay attention to the resistance in the 2638-2643 area. In terms of support below, the area around 2599 to 2598 is a key position, and the trend line is a key support position.
Detailed Operation Strategy for Gold Today
Sell directly at the current price of 2631, defend at 2638, target at 2620-2610
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