On April 3, gold surged to hit 2300? The factors why such a surge mainly stems from three aspects:
First, the market expects the Federal Reserve to cut interest rates. We have repeatedly emphasized in the past that it is only a matter of time before the Federal Reserve cuts interest rates. This is also the main driving force for the market to continue to be bullish on gold. Even if there is news in the short-term market that is not conducive to interest rate cuts, it is only a short-term behavior and does not hinder the bullishness in the medium and long term. This bullish factor continues, so gold's rise to 2300 may be a small target in the future. In the medium and long term, it is possible for gold to rise to 2400-2500 before and after the Federal Reserve interest rate decision in June.
The second is the influence of geopolitical factors. Recent incidents related to the Russia-Ukraine war and the situation in the Middle East have occurred frequently, and there are conditions and possibilities for escalation. Under such global risk challenges, the demand for gold as a safe haven has been continuously strengthened. , combined with the first point above, geopolitical factors have undoubtedly accelerated the bullish sentiment of gold, which is already bullish in the medium and long term.
Third, although the U.S. dollar is currently strong, this strength is difficult to maintain and is not recognized by the market. After all, there are always expectations for the Federal Reserve to cut interest rates, so it is difficult for the U.S. dollar to remain strong for a long time, and the U.S. dollar index itself is also technically at a high level. status, and judging from the recent linkage between the U.S. Index and gold, once the U.S. Index drops, gold will follow the U.S. Index to rise in the opposite direction, and it is unlikely that the U.S. Index will be stronger, which will lead to There is not much room for gold to adjust. In short, the demand for adjustments in the US index's future technology will also bring bullish momentum to gold.
Returning to the current market, the daily line has been positive for 6 consecutive times, the overall rising structure remains good, and the indicator rising structure remains good. In the 4-hour chart, the stochastic indicator golden cross is upward, the main bull is running upward, and the shape is also a continuous broken sun oscillating upward. From any technical point of view, it is bullish, and the retracement is bullish.
On the whole, it is recommended to buy long positions after the pullback in gold operation today. The upper resistance level focuses on the resistance in the 2290-2300 range, and the short-term support below focuses on the 2250-2265 range. If the price falls back to the 2250-2265 range, you can go long.The expected take-profit price above is in the range of 2290-2300 US dollars
First, the market expects the Federal Reserve to cut interest rates. We have repeatedly emphasized in the past that it is only a matter of time before the Federal Reserve cuts interest rates. This is also the main driving force for the market to continue to be bullish on gold. Even if there is news in the short-term market that is not conducive to interest rate cuts, it is only a short-term behavior and does not hinder the bullishness in the medium and long term. This bullish factor continues, so gold's rise to 2300 may be a small target in the future. In the medium and long term, it is possible for gold to rise to 2400-2500 before and after the Federal Reserve interest rate decision in June.
The second is the influence of geopolitical factors. Recent incidents related to the Russia-Ukraine war and the situation in the Middle East have occurred frequently, and there are conditions and possibilities for escalation. Under such global risk challenges, the demand for gold as a safe haven has been continuously strengthened. , combined with the first point above, geopolitical factors have undoubtedly accelerated the bullish sentiment of gold, which is already bullish in the medium and long term.
Third, although the U.S. dollar is currently strong, this strength is difficult to maintain and is not recognized by the market. After all, there are always expectations for the Federal Reserve to cut interest rates, so it is difficult for the U.S. dollar to remain strong for a long time, and the U.S. dollar index itself is also technically at a high level. status, and judging from the recent linkage between the U.S. Index and gold, once the U.S. Index drops, gold will follow the U.S. Index to rise in the opposite direction, and it is unlikely that the U.S. Index will be stronger, which will lead to There is not much room for gold to adjust. In short, the demand for adjustments in the US index's future technology will also bring bullish momentum to gold.
Returning to the current market, the daily line has been positive for 6 consecutive times, the overall rising structure remains good, and the indicator rising structure remains good. In the 4-hour chart, the stochastic indicator golden cross is upward, the main bull is running upward, and the shape is also a continuous broken sun oscillating upward. From any technical point of view, it is bullish, and the retracement is bullish.
On the whole, it is recommended to buy long positions after the pullback in gold operation today. The upper resistance level focuses on the resistance in the 2290-2300 range, and the short-term support below focuses on the 2250-2265 range. If the price falls back to the 2250-2265 range, you can go long.The expected take-profit price above is in the range of 2290-2300 US dollars
Comment:
Gold encounters resistance near $2,288, but there is a high probability that it can break through $2,288
Gold encounters resistance near $2,288, but there is a high probability that it can break through $2,288
Comment:
Gold has broken through the resistance level of $2,288, and the next high is near $2,300
Gold has broken through the resistance level of $2,288, and the next high is near $2,300
Gold is about to reach new highs