Gold market analysis:
Last week, gold closed with a positive line. The bulls started to rise and then fell back. The daily line closed at a high level, which showed a signal of weakness. This is why we arranged to sell at 3342 on Friday. Today’s idea is short-term bearish. Selling on the weekly line needs to break 3294 before entering the weekly line. 3246 is the bottom support of the weekly line. The form shows that the long-term trend of gold is still unclear. It still belongs to a high-level big swing. There are several reasons. One geopolitical factor has led to market uncertainty. In addition, the recent tariff policy of the United States has affected the market. In addition, the monetary policy of the Federal Reserve is also erratic. We are just a short-term trader. We need to follow. No matter how the market fundamentals change, we need to follow. Today’s gold Asian session has recently dived. Pay attention to its continuity. It is better to rebound and sell.
Today’s Asian session focuses on the rebound opportunity. The pattern broke the previous low point, but 3300 is also a strong support. Temporarily do not consider chasing orders, wait for the opportunity to rebound and sell. In the Asian session, we focus on two small suppression positions, one is 3330, and the other is around 3322. If the rebound does not break 3345, we will insist on selling. Of course, if it breaks, it will be a V-shaped market again, and we need to readjust our thinking to be bullish.
Support 3300 and 3306, strong support 3294, and the watershed of strength and weakness of the market is 3306.
Fundamental analysis:
Last week, we experienced the Independence Day holiday in the United States, and the previous non-agricultural employment data suppressed it. At present, the data and fundamentals are suppressing gold and crude oil. But the US dollar did not rise, but kept falling.
Operation suggestion:
Gold—–sell near 3330, target 3300-3294
