Gold trend analysis for next Monday

This week, the gold market has repeatedly surged, and then fell under pressure. On Friday, gold surged to 2368 and then plunged, bringing a big wash to the market. The current gold price is already below the 5-day and 10-day moving average support of 2325-2330. The 4-hour chart has fallen continuously. All previous supports have been broken, and long and short positions have begun to switch. It is expected that it will be difficult to see a surge in the market again in the short term.

A big negative line directly breaks through all support levels. At present, the overall K-line is a bearish trend. Although there has been a retracement to a weak market, it is not recommended to continue to chase shorts. One-sided market conditions are always accompanied by the repair of longs and shorts.

On the top, you can first look at the weekly moving average watershed position of 2342, and then arrange short orders after a steady rebound to this area. If the market is not so strong, then touching 2332-2335 is also an opportunity. The target below is 2280.

On the whole, the short-term operation suggestions for gold next Monday are mainly to go short on rebounds, supplemented by longs on callbacks. The top focus will be on the 2333-2335 resistance range, and the bottom focus will be on the 2295-2290 support range.

（Source from: TV-GoldMasterClub）