Gold is rising like repression, counterattack is happening today
From a daily perspective, the beginning of the golden week showed a strong upward trend with two consecutive sunny days. At present, the moving average system is in an upward divergent state. Although technical indicators show signs of divergence and overbought, the market is showing an extremely strong trend under the strong stimulation of fundamental factors.
Firstly, focus on the resistance level near yesterday's high point of 3038. From the analysis of the upward structure and strength of gold since 2832, it is necessary to be alert to the possibility of market adjustment before achieving further strong breakthroughs.
Let's first focus on the support level near the low point of 3024 formed by the decline in yesterday's US trading session. Given the recent strong unilateral upward trend, the low point shows a continuous upward trend. If the price remains above 3024, the judgment of unilateral upward trend can be continued; Once the price effectively breaks below the support level, it is necessary to pay attention to signals that the upward momentum of the market is beginning to weaken. Secondly, pay attention to the support level in the 2985-2980 region, which is not only the low point of last Friday's decline, but also the starting point of the week's consolidation after the initial oscillation.
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