Take long position to 1238 if the support on 1220 holds
Fundamentally, DXY has entered its descending tunnel and the world financial market is still in panic. If Trump still might comment on FED's monetary policy, it would drive the gold price up once again.
Technically, Gold price has broken through the descending trend line since April 12th, which means gold price has technically entered into ascending period. As long as the vital support 1220 holds, we can optimistically take a long position to 1238 in today's trading.
Technically, Gold price has broken through the descending trend line since April 12th, which means gold price has technically entered into ascending period. As long as the vital support 1220 holds, we can optimistically take a long position to 1238 in today's trading.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.