Buy gold near $5180, set stop loss order at 5140

Buy gold near $5,180 and place a stop loss order at $5,140.

Gold prices fell sharply on profit taking on Tuesday, and safe-haven demand picked up again on Wednesday.

Today’s trading results: Profit exceeded 600 points, profit per contract was US$6,000.

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U.S. tariff policy and trade war concerns “new escalation” (the strongest positive factor)

Event: U.S. Trade Representative Greer said on Wednesday that the recently imposed 10% global import tariff will be increased to 15% or higher.

It’s a faster, stronger alternative proposed by the Trump administration under Section 122 of the Trade Act of 1974 after the Supreme Court ruled that previous tariffs were illegal.

The move far exceeded market expectations and raised concerns about escalating global trade tensions and rising inflation.

“Maximum pressure” before US-Iran talks (positive factors continue)

Event: The United States and Iran are scheduled to hold a new round of nuclear negotiations in Geneva tomorrow (Thursday). However, on the eve of the talks, the two sides made frequent moves. The United States has deployed F-22 fighter jets to Israel, and the Trump administration has also sent a strong message to Iran.

Iran is also prepared to respond to any aggressive actions.

Current technical analysis

Support level (reference point for buying on dips):

First support level: 5170-5180 area

Main support level: 5145-5150 area

Strong support level: 5100-5120 area

Resistance level (breakout reference point):

The first resistance level: 5220-5230 area

Key short-term resistance level: 5250

Upward target: After breaking through the 5250 mark, focus on the 5300-5380 area.

The short-term market has resumed a volatile upward trend.

Trading strategies should focus on buying dips and avoid buying too early when tops are hit.

Trading advice:

Entry area: After breaking through the 5200 mark, if there is a technical callback, focus on the 5170-5185 area. If the price falls into this range and shows signs of stabilization (such as a bullish candle with a long lower shadow on the 1-hour chart), it is recommended to buy in batches.

Aggressive traders: It is recommended to open a small buy position near 5204, while using a small stop loss order to bet on a bullish breakout.

Place a stop-loss order: Place a stop-loss order below 5140 (a move below this level indicates short-term weakness).

Target price level:

First target: 5220-5230

Second target: 5250 (the highest level in the previous period)

Third target (swing target): If the price stabilizes above 5250, the next target is 5300-5350.