Gold has experienced a unilateral rise in the recent bull market, and finally reached a new all-time high and was blocked near 2430. Then it ushered in a collapse and fell back, with the lowest falling to around 2290 to be supported. However, the decline has not been well extended and has not continued to fall, indicating that there is still a large amount of buying support below. At the end of last week, the price fluctuated and slowly rose to around 2354. The callback low began to slowly move upward, and it held the 2330 mark at the end. There is a possibility for bulls to make a comeback.
Gold fluctuated and slowly rose to around 2354 last Friday, the correction low began to slowly move upward, and ended up holding the 2330 mark. 2430 is a clear peak, and the 2400 mark has not been successfully surpassed by multiple shocks. Now it is poised to collapse from high levels and fall back, and the decline is expected to continue. However, since the bulls are still in a bull market, there is still a large amount of buying support, and further declines will require the bulls to digest the momentum. Next, we will see whether this rebound can stabilize the 2355 watershed. Once it stabilizes, there will be no advantage in shorting. Today we will focus on the support near 2325. If it stabilizes the 2330 mark, then we will see a rebound.
Gold Strategy: Go long near $2,325
Stop loss $2310
Target $2335-2345
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Friends, after experiencing a wave of rise, the price of gold is now under pressure from above at 2340-2345 US dollars. It has not continued to break upward to last week's high of 2352 US dollars. It is also showing a downward trend. Now we can wait until 2320-2325. At the support level of the US dollar range, observe the market trend before trading. If it does not fall below US$2,320, we can go long gold.
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Gold fell above $2,325 and was supported below. We can wait until the $2,325-2,320 range to make long positions.
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Gold rebounded and rose to $2,340 before falling under pressure
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Gold prices are now above $2,340
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Gold has not yet exceeded $2,350. We can short gold above $2,350.
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Now that gold is falling and short sellers are making profits, we can go long gold again below $2,330.
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Waiting to go long gold below $2,330
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Gold prices go long gold near $2,325
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Gold continues to fall and has fallen below $2,320. We should trade cautiously now