After Thursday’s plunge, the head of gold began to gradually appear, but it is not very stable. You can build positions in batches after breaking through key support and gradually expand short positions.
The important driving force for the rise in gold prices is that the interest rates of European and US bonds have rebounded, and the interest rates of long bonds have continued to break new highs, giving less and less news support for the rise in gold prices . The ceasefire negotiations will also withdraw some support. Both intraday and short-term trading strategies are mainly bearish, but considering the impact of emotions, shorting should be based on breakthroughs.
Trading strategy: (trend following) intraday breakthrough 2733 is bearish; short-term breakthrough 2715 is bearish
Resistance reference: 2738 (stop loss); 2744 (reverse breakthrough bullish)
Support reference: 2733 (breakthrough); 2725 (breakthrough); 2715 (short-term breakthrough)
XAUUSD 15-minute chart
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