Gold Beware of Risks of Market Change!

12 dic 2024

🔸Judging from the current technical trend, the possibility of gold directly breaking through 2730 and hitting a new high is low. If there is significant selling pressure in the 2720-2730 area above, it will trigger profit-taking by bulls, or trigger short-selling sentiment as risk aversion subsides, thus becoming a signal for a new round of daily decline in gold. Therefore, the 2725-2730 mark is more likely to form a new second high and start a correction.

🔸Today is the 21st trading day since gold rose from 2536 points, and the 13th trading day since it rose from 2605 points. The time period may trigger a new round of market change windows. The 2730 line is an important resistance level on the daily chart of gold. If the price of gold cannot break through this position, it may turn downward.
Judging from the hourly chart, a clear bearish engulfing pattern has formed, suggesting that 2726 may become a short-term high.

🔸Upper resistance: In the short term, focus on the 2726-2730 area. There is strong selling pressure in this range. If the gold price fails to break through, it will trigger a correction.
🔸Lower support: In the short term, focus on the 2675-2680 area, which is the key support area. If the gold price holds this support, it is expected to remain high and volatile; but once it effectively falls below, it means that the current upward trend may end and the market will re-enter a short market.

🔸Trading strategy:
🔰If the gold price rebounds to above 2725, you can consider placing short orders, targeting the 2680-2675 range.
🔰If the gold price pulls back to the 2675-2680 area and stabilizes, you can try to go long with a light position, targeting 2700-2710.

🔸The above analysis needs to be combined with the actual intraday trend to dynamically adjust the strategy, and pay close attention to the impact of market sentiment and fundamental factors.

12 dic 2024

Trade attivo

🔰Gold remained in the range of 2610-2620 in the European session. The two rebounds to the 2720 line failed to break through effectively, highlighting that 2720 is the key pressure level in the current market.

🔰Affected by the PPI data during the US session, gold is likely to usher in a sharp correction, and the correction target is expected to be around the 2685-2675 range.

Upper pressure: 2720-2730 range.
Lower support: 2700-2685 range.

🔰Short order layout:
Entry range: 2714-2718
Short-term profit target: 2702-2695
Long-term profit target: 2685-2675

📛Risk warning:
If gold breaks through 2720 and stabilizes, we should be alert to the possibility of further upward movement and adjust the strategy in time.
It is recommended to pay close attention to the evening data and changes in market sentiment, and flexibly adjust the operation ideas.

12 dic 2024

Trade chiuso: obiettivo raggiunto

At present, the gold price has fallen to around 2675 as expected. We can make a long order here, with the target around 2700.