2.6 Gold tests 2850 support

6 בפבר׳

2.6 Gold tests 2850 support

Gold has been strong recently, with consecutive positive daily closings and a unilateral upward trend in the 4-hour cycle.
The following is an analysis and operational suggestions for the current market:

1. Trend analysis
Daily level: Gold continues to increase in volume on the daily line, and the continuous positive pattern has not changed, showing a strong bullish trend. Yesterday, it hit a low of 2839 and then quickly rose, eventually reaching 2882, indicating that the market bullish force is still dominant.

4-hour level: In the 4-hour cycle, gold maintained a unilateral upward pattern. Although there was a small retracement, the overall upward rhythm remained unchanged. The retracement was small, and it could rise quickly after each retracement, showing that the market buying was strong.

2. Support and resistance

Short-term support: 2850 is an important short-term support level. If it falls back to this position, you can consider continuing to go long.

Daily support: If it falls below 2850, 2840 below is a daily support level. If it touches this position, you can also consider going long.

Upper resistance: 2882 is yesterday's high point, and it is expected to continue to see new highs after breaking through. If it breaks through 2882, the upper target can be seen at 2900 or even higher.

3. Operation suggestions
Go long on retracement: For today's operation, it is recommended to continue to go long on retracement. If the price retraces to around 2850, you can go long based on this position, with the stop loss below 2840, and the target is 2882. Continue to hold after breaking through.

Operation after breaking through support: If the price falls below 2850, you can wait for the price to retrace to around 2842 before going long, with the stop loss below 2835, and the target is also 2882 and above.

Operation after breaking through the new high: If the price breaks through 2882, you can continue to chase long, with the target looking at 2900 and above.

4. Risk control
Stop loss setting: Whether it is going long on retracement or chasing long on breakthrough, you must set a reasonable stop loss to prevent the risks brought by market reversal.

Position management: In a strong unilateral market, although long positions are the main focus, you should also pay attention to position control to avoid excessive risk caused by excessive pursuit of high prices.

Summary:
Gold is currently in a strong unilateral upward market. The main operation is to go long after the retracement, focusing on the support levels of 2860 and 2842, and the upper target is 2882 and new highs. You can continue to chase long positions after the breakthrough, but pay attention to risk control and set stop losses reasonably.

6 בפבר׳

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