Gold today traded in a strong bullish pattern of Fed decision-driven surge – high-level consolidation – late-afternoon resurgence, hitting a new all-time high intraday. The move was primarily driven by the Federal Reserve's interest rate decision and its dovish guidance. Technically, the market is heavily overbought at highs but the bullish trend remains intact, with short-term pullback risks coexisting with medium-term upward momentum.
Support Levels:
Intraday low at 5444, 5-day MA at 5380, and the round number level of 5500 (now turned support).
Resistance Levels:
Round number level of 5600; a breakout opens the way to 5650-5680.
Trading Strategy:
Buy 5510 - 5520
SL 5500
TP 5580 - 5590 - 5600
In the medium term, the bullish structure for London Gold remains firm, underpinned by expectations of the start of the Fed's rate cut cycle, sustained central bank gold purchases and geopolitical risks. In the short term, attention should be paid to pullback pressure from overbought conditions. Operationally, it is advised to view the rally rationally, refrain from blindly chasing the upside, implement strict risk control, and hold firmly onto gains.
Support Levels:
Intraday low at 5444, 5-day MA at 5380, and the round number level of 5500 (now turned support).
Resistance Levels:
Round number level of 5600; a breakout opens the way to 5650-5680.
Trading Strategy:
Buy 5510 - 5520
SL 5500
TP 5580 - 5590 - 5600
In the medium term, the bullish structure for London Gold remains firm, underpinned by expectations of the start of the Fed's rate cut cycle, sustained central bank gold purchases and geopolitical risks. In the short term, attention should be paid to pullback pressure from overbought conditions. Operationally, it is advised to view the rally rationally, refrain from blindly chasing the upside, implement strict risk control, and hold firmly onto gains.
交易开始
We still adopted long positions as our core strategy today, and we clearly reminded the market to watch out for pullback pressure and refrain from blindly chasing the upside in the early session. Therefore, despite the intraday fluctuations in gold prices, we still held firmly onto our gains by virtue of accurate predictions of the trend and strict risk control.
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