Gold prices fluctuated sharply after the release of non-agricultural data. The highest point reached the 2320 line, but then quickly fell back to around 2277. Such large fluctuations reflect market uncertainty. At the same time, the daily chart shows continuous negative lines, and the short-term moving averages are also beginning to exert pressure. Therefore, the evening closing is particularly important. If it closes on the negative line, it may continue to fall next week, with the lower support level remaining near 2250. Currently, the primary pressure level for gold is around 2302, which may become the suppression zone and entry position in the short term. There may be a rebound in the short term, but this is just a process of short-term repair and washout.
On the one-hour chart, 2308 has become a key point for whether bulls can regain their strength in the market outlook. Below this area, we are more bearish. The next target may be 2260 or 2250, depending on market performance. We are primarily bearish ahead of the one hour bottom pattern. However, if there is a sustained rebound in the evening and the one-hour closing price breaks through 2308, it may mean that the adjustment is over and the market outlook may be bullish.
On the whole, in the short term, it is recommended to mainly go short on rebounds and supplementary long orders on callbacks.
At the top, focus on the resistance range of 2308-2310, and at the bottom, focus on the support range of 2265-2267.
On the one-hour chart, 2308 has become a key point for whether bulls can regain their strength in the market outlook. Below this area, we are more bearish. The next target may be 2260 or 2250, depending on market performance. We are primarily bearish ahead of the one hour bottom pattern. However, if there is a sustained rebound in the evening and the one-hour closing price breaks through 2308, it may mean that the adjustment is over and the market outlook may be bullish.
On the whole, in the short term, it is recommended to mainly go short on rebounds and supplementary long orders on callbacks.
At the top, focus on the resistance range of 2308-2310, and at the bottom, focus on the support range of 2265-2267.
🎯Strategy 1: Go short when gold rebounds to around 2308-2310, stop loss 6 points, target around 2290-2275, break the position and look at the 2265 line✅
🎯Strategy 2: Go long when gold pulls back to around 2265-2267, stop loss by 6 points, target around 2280-2290, and look at the 2300 line if the position is broken✅
The trading strategy will be adjusted in real time according to market trends. If you need the latest trading strategy, please contact me.