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8.22 Gold Operation Analysis

Gold fluctuated and fell during the European session after the release of the US weekly jobless claims data on August 17. It has now fallen below the support line of the lower Bollinger band of 2485. The data is lower than expected. Gold should have been bullish, but it fell instead of rising.

For this situation, my personal analysis is that the bulls may be accumulating momentum to fall back and rush higher.

The long-term trend of gold is definitely rising, but it will inevitably fluctuate and consolidate in the medium term.

Key resistance levels are 2498, 2512, 2522, and 2530.

Key support levels are 2483, 2473, 2463, and 2450.

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It is now almost at the first support level

May fall back in the short term

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The second support level has been broken

The leek-cutting mode has been activated

Enter the market cautiously

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At present, the market is fluctuating sideways, and the momentum is relatively weak.

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After we have continuously entered the market and made profits, a new variable appeared today and ended up with losses, but overall, the members are still mainly profitable.

Let us continue to aim for profits and create a new chapter of wealth