Gold rose to a high of 1997 last week, but fell at the beginning of this week, with a low of 1964
As can be seen from the chart, gold was seriously overbought last Friday, and the Palestinian-Israeli conflict did not escalate significantly over the weekend, so gold fell to the upper edge of VWAP and technical indicators were adjusted.
In terms of time cycle, after the war between Russia and Ukraine started last year, gold also peaked in two weeks, and the price also shot up by about 160 US dollars. This time, the Palestinian-Israeli conflict increased from 1832 to 1996, and the price also increased by more than 160 US dollars. As of this week, it is exactly two weeks.
1972 is the dividing point for gold’s rise, but it has fallen below it at the opening. We can judge that the strength of gold’s rise has begun to decline.
We need to pay attention to the upper resistance point range:
1978-1982
1985-1990
1995-2000
Pay attention to the support point range below:
1962-1966
1950-1955
You need to observe the key points of 1950 this week. If it falls below 1950, there may be a lot of room for gold to fall.
Gold arrived in 1982, you can trade step by step, pay attention to the management of positions
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Has fallen by 5 US dollars, reaching near 1977
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Do you think it's a reversal now?
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You can make a profit at the first support point
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Trading volume waiting for US market time
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There is not much volatility now, continue to observe the support and resistance points to trade
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Now gold is rising rapidly in 1975, so we observe the second resistance point 1985-1990 to trade
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It did not break through the first resistance point of 1982, so the increase was still not strong.
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As I expected, gold did not exceed the first resistance range
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Gold rebounded along the stop-fall on the trend, observing whether it fell below the upward trend
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If you can't break through the first resistance zone, then gold will continue to fall tomorrow
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Since yesterday, gold has been fluctuating between the upper trend and the range of 1982, and now there is not much room for gold
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Gold is still subject to the resistance of 1978-1982, and now it has reached near 1975, and the support point on the upper edge of the trend is near 1973, and the range is getting smaller and smaller.
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