Analysis and plans for gold after the market opens tomorrow
Spot gold's rebound continued last week as the Fed's favored core personal consumption expenditures (PCE) price index for November came in lower than expected.
Gold prices briefly tested above $2,070 on Friday before falling back to the day's opening price. Last week, gold prices hit a maximum of $2,070.67 per ounce and a minimum of $2,015.99 per ounce.
The 4-hour K-line encountered resistance and suppressed the early highs, and the overall trend was still downward. Although gold rebounded to a certain extent yesterday, without breaking through 2070, I personally do not expect the continuity to be strong. To put it simply, shorting will be the main focus next week on rallies. The first resistance above is near 2058. If the counterattack does not break this position, you can go short.
Gold prices briefly tested above $2,070 on Friday before falling back to the day's opening price. Last week, gold prices hit a maximum of $2,070.67 per ounce and a minimum of $2,015.99 per ounce.
The 4-hour K-line encountered resistance and suppressed the early highs, and the overall trend was still downward. Although gold rebounded to a certain extent yesterday, without breaking through 2070, I personally do not expect the continuity to be strong. To put it simply, shorting will be the main focus next week on rallies. The first resistance above is near 2058. If the counterattack does not break this position, you can go short.
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Buy2055-2058 sl2049 tp2063-2070
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