Gold analysis: before the opening of US market yesterday, the market was affected by tensions between Russia and Ukraine, and the mood of gold risk aversion heightened. Gold first rebounded from around 2564, and the highest test was near 2597. Then the gold pullback fell to around 2580 and then rebounded again to around 2597; after the US market opened, gold continued its rising trend and broke through around 2600 to 2615, and gold fell weakly in late market and closed around 2610.
From the H4 chart analysis, the Bollinger bands upward opening extension, the current gold along the Bollinger bands on the trajectory, short-term gold continues to rise, short-term support level 2625, short-term pressure level 2610, early gold operating range [2610-2625], if gold breaks through 2625, gold continues to rebound higher, upper targets 2640 and 2655; if gold falls below 2610, gold pulls back down again, lower targets and 2595 and 2580.
Support level: 2610-2595-2580
Pressure level: 2625-2640-2655
Today, we will focus on whether 2625 breaks through or whether 2610 falls below. It is predicted that gold may first rise and test 2625/2640 today, and then pull back again to test 2610/2595/2580.
From the H4 chart analysis, the Bollinger bands upward opening extension, the current gold along the Bollinger bands on the trajectory, short-term gold continues to rise, short-term support level 2625, short-term pressure level 2610, early gold operating range [2610-2625], if gold breaks through 2625, gold continues to rebound higher, upper targets 2640 and 2655; if gold falls below 2610, gold pulls back down again, lower targets and 2595 and 2580.
Support level: 2610-2595-2580
Pressure level: 2625-2640-2655
Today, we will focus on whether 2625 breaks through or whether 2610 falls below. It is predicted that gold may first rise and test 2625/2640 today, and then pull back again to test 2610/2595/2580.