Spot gold trading strategy on May 26: Bollinger Bands are clearly suppressed in the middle rail, and shorts are pressing step by step
During the Asia-Europe session on Thursday (May 26), spot gold fluctuated slightly and was currently trading around $1,845. Although the minutes of the Fed meeting overnight were slightly less hawkish than expected, providing some support for gold prices in the short term, the global central bank is expected to Further interest rate hikes will increase the opportunity cost of holding gold, and U.S. stock markets have risen, weighing on safe-haven demand for gold. Technical short-term bearish signals have increased.
This trading day focuses on the revised US GDP in the first quarter and the changes in the number of initial jobless claims in the US. The market expects that the US GDP in the first quarter may be revised up slightly, and the number of initial jobless claims is expected to further reflect the steady recovery of the US job market, which may have a negative impact on the U.S. job market. Gold prices are unfavorable. Of course, it is also necessary to pay attention to the impact of geopolitical situations and global stock market performance on market sentiment.
Day level:The rebound was blocked after the shock fell. The multiple resistances near the middle rail of the Bollinger Bands significantly suppressed the gold price. KDJ has a tendency to turn heads. It is necessary to beware of the risk of the gold price returning to the downward trend. The initial support is near the 200-day moving average at 1840.40, and the 10-day moving average supports In the vicinity of 1837.32, the low point of May 20 is supported at around 1832.23. If it falls below this support, it will increase the short-term bearish signal.
Further support is near the May 18 high of 1824.63, followed by the 1810 and 1800 mark.
Since the MACD golden fork signal is still there, the price of gold is still above the 200-day moving average. If the price of gold can break through the middle-rail resistance of the Bollinger Bands, it will increase the bullish signal of the middle line. Currently, the middle-rail resistance of the Bollinger Bands is around 1864.31; the 5-day moving average There is also some resistance around 1853.02.
4 hour level:Shock; the Bollinger Bands track closes and runs close to horizontal, pay attention to the breakthrough in the 1837.08-1868.62 area of the Bollinger Bands track.
Short-term operation suggestions:Conservatives wait and see; activists cautiously short rallies.