From the chart we can see that gold is now clearly overbought.
But now because of the Palestinian-Israeli conflict, risk aversion is very obvious now.
In a strong uptrend, resistance points are not necessarily valid.
Always pay attention to geopolitical developments, which will still affect the trend of gold next week
Pay attention to several important resistance and support points:
upper resistance point: 1950,1980(A few more points can be added to the upward trend)
lower support point: 1918,1905,1880
(The Palestinian-Israeli conflict expanded again over the weekend and may open higher)
On the technical side, it means that the RSI indicator has also entered the overbought zone in multiple cycles. If the trend changes, we will adjust our strategy in time.
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Waiting for the trend to come out
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The war has eased and the technical indicators are overbought, so it is now down for a short time, but it is not yet possible to judge whether it will reverse.
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If you can't break through the previous high, you can try to sell
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Observe the trading trend in the range
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The interval is getting smaller and smaller