Over the past two trading days, the global financial market has been roiled by a spate of risk events—ranging from sudden tensions in geopolitical situations, unexpected fluctuations in economic data of major economies, to unforeseen adjustments in industrial policies. The convergence of multiple uncertainties has significantly boosted market risk-aversion sentiment. Against this backdrop, gold, as a traditional safe-haven asset, has seen a marked increase in appeal, with bullish momentum continuing to build up, and the gold price has once again launched an assault on the key resistance zone of $3,400 per ounce.
For buyers firmly bullish on gold, such an attempt to break through is actually an inevitable outcome driven by the combined effects of market sentiment and capital flows. On one hand, the risk-aversion demand triggered by risk events has continuously injected momentum into the bulls; on the other hand, after the gold price formed a solid support around $3,350 earlier, a large amount of waiting funds began to enter the market for positioning, further strengthening the upward expectation. However, it is important to note that the current gold price is still in the critical "top-bottom conversion zone" of $3,350—a level that was once a resistance suppressing the gold price's upward movement in the past, and has successfully transformed into a support after being broken through. The market performance yesterday further confirmed the importance of this level: after testing the support at $3,350, the gold price did not pull back, but instead directly surged sharply, with the increase exceeding $35 within just a few hours.
In fact, the long opportunity around $3,350 has been repeatedly emphasized before based on the following logic: technically, this level is the upper edge of the previous consolidation platform and coincides with the support of multiple short-term moving averages, providing sufficient support strength; from the perspective of capital flow, the level has been tested multiple times without breaking below, indicating that a large number of buy orders are lurking here. Therefore, as long as you paid attention to and followed this strategy at that time, you would have firmly secured this substantial profit of over $35!
Looking at the hourly chart of the short-term cycle, a large bullish candle with a full entity yesterday directly pushed the gold price up from around $3,350. This not only broke through the previous consolidation range but also brought the short-term trend back under the absolute control of the bulls. For today's trading, $3,350 is undoubtedly the core starting point of the market rally. However, it is particularly important to note that the long entry point for the second pullback should no longer be fixed at $3,350—because if the gold price falls back to this starting point again, it will mean that the strong upward momentum in the early stage has significantly weakened, and the short-term trend may shift from "strong upward movement" to "weak consolidation". At that time, going long at the original level will lead to a significant increase in risk.
After sorting out the capital flow and K-line pattern on the hourly chart, the key long entry point for the second pullback should focus on the pullback concentration area, which is around $3,361. From a technical perspective, this level is not only the stabilization area of the first pullback after yesterday's sharp rise but also the concentrated entry point of short-term bullish funds, with strong support effectiveness. Therefore, if the gold price can pull back to around $3,361 today and show stabilization signals (such as a small bullish candle closing, a bottom divergence in the MACD indicator, etc.), you can continue to attempt to open long positions and seize the subsequent upward opportunities.
Thank you all for your likes, comments and follows, we really appreciate it!
For buyers firmly bullish on gold, such an attempt to break through is actually an inevitable outcome driven by the combined effects of market sentiment and capital flows. On one hand, the risk-aversion demand triggered by risk events has continuously injected momentum into the bulls; on the other hand, after the gold price formed a solid support around $3,350 earlier, a large amount of waiting funds began to enter the market for positioning, further strengthening the upward expectation. However, it is important to note that the current gold price is still in the critical "top-bottom conversion zone" of $3,350—a level that was once a resistance suppressing the gold price's upward movement in the past, and has successfully transformed into a support after being broken through. The market performance yesterday further confirmed the importance of this level: after testing the support at $3,350, the gold price did not pull back, but instead directly surged sharply, with the increase exceeding $35 within just a few hours.
In fact, the long opportunity around $3,350 has been repeatedly emphasized before based on the following logic: technically, this level is the upper edge of the previous consolidation platform and coincides with the support of multiple short-term moving averages, providing sufficient support strength; from the perspective of capital flow, the level has been tested multiple times without breaking below, indicating that a large number of buy orders are lurking here. Therefore, as long as you paid attention to and followed this strategy at that time, you would have firmly secured this substantial profit of over $35!
Looking at the hourly chart of the short-term cycle, a large bullish candle with a full entity yesterday directly pushed the gold price up from around $3,350. This not only broke through the previous consolidation range but also brought the short-term trend back under the absolute control of the bulls. For today's trading, $3,350 is undoubtedly the core starting point of the market rally. However, it is particularly important to note that the long entry point for the second pullback should no longer be fixed at $3,350—because if the gold price falls back to this starting point again, it will mean that the strong upward momentum in the early stage has significantly weakened, and the short-term trend may shift from "strong upward movement" to "weak consolidation". At that time, going long at the original level will lead to a significant increase in risk.
After sorting out the capital flow and K-line pattern on the hourly chart, the key long entry point for the second pullback should focus on the pullback concentration area, which is around $3,361. From a technical perspective, this level is not only the stabilization area of the first pullback after yesterday's sharp rise but also the concentrated entry point of short-term bullish funds, with strong support effectiveness. Therefore, if the gold price can pull back to around $3,361 today and show stabilization signals (such as a small bullish candle closing, a bottom divergence in the MACD indicator, etc.), you can continue to attempt to open long positions and seize the subsequent upward opportunities.
Thank you all for your likes, comments and follows, we really appreciate it!
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.