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Market News Spot gold trading strategy on May 30: Weak dollar supports gold prices, pay attention to changes in market sentiment
Spot gold trading strategy on May 30: Weak dollar supports gold prices, pay attention to changes in market sentiment
Gold prices rose on Monday as the dollar weakened and the geopolitical situation in Russia and Ukraine provided support for safe-haven buying. However, Monday coincides with the Memorial Day holiday in the United States. The U.S. stock market, bond market, federal government offices, and the Federal Reserve will be closed on Monday. The liquidity is lower than usual, and there is no important data released before Wednesday, and market trading may be limited. . Moreover, as the market's concerns about the epidemic in Asia have decreased, the US stock market has risen sharply last week, and the market risk appetite has rebounded. It is still necessary to beware of gold bears fighting back.
2022-05-30
11066
During the Asia-Europe session on Monday (May 30), spot gold fluctuated slightly, reaching a new high of $1,863.34 per ounce in three trading days at one point, due to the weakness of the dollar and the support of safe-haven buying provided by the geopolitical situation in Russia and Ukraine. However, Monday coincides with the Memorial Day holiday in the United States. The U.S. stock market, bond market, federal government offices, and the Federal Reserve will be closed on Monday. The liquidity is lower than usual, and there is no important data released before Wednesday, and market trading may be limited. . Moreover, as the market's concerns about the epidemic in Asia have decreased, the US stock market has risen sharply last week, and the market risk appetite has rebounded. It is still necessary to beware of gold bears fighting back.
4-hour level: shock; the Bollinger Band orbit runs horizontally, pay attention to the breakthrough of the Bollinger Band orbit 1842.69-1867.80 area, the current MACD golden fork, KDJ diverges upward, if it can break the resistance near the Bollinger Band orbit 1867.80, it is expected to open A new rising channel, with further resistance above the reference near the 1880 mark.
If you can't break the resistance near 1867.80 on the upper Bollinger line, you need to beware of the risk of shock and fall. At present, the middle rail of the Bollinger Band is supported at 1855.30, and it needs to fall below the support near the lower rail of the Bollinger Band at 1842.69 to open the falling channel. Further support is near 1832.24 and then near 1824.62.
Resistance: 1867.80; 1880.00; 1889.15;
Support: 1855.30; 1842.69; 1832.24;
Short-term operation suggestions: wait and see; before breaking 1870, radicals should be cautious and short on rallies.
4-hour level: shock; the Bollinger Band orbit runs horizontally, pay attention to the breakthrough of the Bollinger Band orbit 1842.69-1867.80 area, the current MACD golden fork, KDJ diverges upward, if it can break the resistance near the Bollinger Band orbit 1867.80, it is expected to open A new rising channel, with further resistance above the reference near the 1880 mark.
If you can't break the resistance near 1867.80 on the upper Bollinger line, you need to beware of the risk of shock and fall. At present, the middle rail of the Bollinger Band is supported at 1855.30, and it needs to fall below the support near the lower rail of the Bollinger Band at 1842.69 to open the falling channel. Further support is near 1832.24 and then near 1824.62.
Resistance: 1867.80; 1880.00; 1889.15;
Support: 1855.30; 1842.69; 1832.24;
Short-term operation suggestions: wait and see; before breaking 1870, radicals should be cautious and short on rallies.
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