Gold:
This week's three trading days, gold showed signs of rebound, but after rising around 1830, it showed repeated and circuitous performance, and finally formed a trend of rising and falling again. Continuous rising indicates that the market has a certain degree of strength, but when it is blocked, it forms a circuitous and circuitous performance. In the short term, it indicates that the market is still not stable enough, and the bullish upward trend is still not firm. Therefore, we need to pay attention to short-term fluctuations and circuitous performance in the day.
From the perspective of trend structure, the previous consolidation range was 1815-1830, which fluctuated for multiple trading days before breaking down, but the break did not continue. After reaching the low point, there was a continuous upward rebound channel, and the previous range suppressed the upper edge, forming the current trend structure. If the high point breaks high, it cannot continue to strengthen after breaking high at the same time, but instead shows a downward trend when breaking high, For two consecutive times, both prices have risen and fallen, but the price is still at the upper edge of the previous fluctuation range. The breaking range has not been extended, and the fluctuation above the price is circuitous. As a result, the market trend slows down and the reversibility is strong, unintentionally delaying the upward rhythm. At the same time, the trend direction remains unchanged, and delaying the upward direction will pose a certain challenge to the participation of bulls, So when we follow the market rhythm in the short term, we don't blindly follow the trend, but rather follow the low point after detouring.
From the perspective of trend structure, all the consolidation of shocks is prepared for the future decline. In the early stage of consolidation, the upward trend has already broken through the upper edge of the range. A rebound at the bottom does not mean a trend change, but rather a convoluted consolidation stage, where high levels do not see new highs, and prices continue to rise above the high point. The 1813 line in the early stage and the 1810 line yesterday indicate that prices are still expected to break through the downward trend, Instead, it moves relatively slowly, and in the short term, it is necessary to guard against rebound performance in the targeted short-term. The high rebound is being treated in a roundabout manner, so the short-term support does not break much lower, and the rebound is hindered by following the short performance. The short-term pressure is around 1838, with the upper focus on 1842-1853 resistance and the lower focus on 1820-1815 support.
At the beginning of next week, the gold trading strategy is to extend the long opening period to 1838 next week, where short orders can participate, with a stop loss of 1843 and a target of 1825 not breaking the backhand long.
Silver:
Silver has continued to rise in recent times, although the upward trend has been suppressed multiple times. However, the overall trend is still upward along the trend line, with two consecutive negative days on the weekly line and a bullish trend on the daily level, indicating that the future market will continue to rise. The highest point of this rally is reaching the 21.6 first line, and continue to hold the bullish view. The bullish position is not over. Next week, the short-term focus will be on the resistance level of 22.3 to 22.0 above, and the support level of 21.0 to 21.3 below, The mentality of silver remains unchanged, and the early decline in the week is still seen as a bargain hunting layout with multiple orders.
