From the analysis of historical trends, there is a high probability that the gold price will surge at the beginning of each week, and it is expected that there is a high possibility of breaking through 3,900 points on Monday. As gold prices continue to rise, the overall market still maintains bullish expectations, but in the short term we need to be wary of the risk of wash-outs caused by sudden pullbacks.
The technical analysis shows that a significant and strong support structure has been formed in the charts of various cycles, among which the 3860 level corresponding to the 5-day moving average on the daily level has become a key support area. If the gold price can effectively hold above this level next week, the daily support level is expected to move further up, thus providing a more solid technical basis for the bulls to push prices to new highs. Combined with the safe-haven demand caused by geopolitical uncertainties and other potential risk events, it is expected that the gold price will have a strong feasibility of breaking through and stabilizing at 3,900 next week.
The above content is my prediction of the gold trend over the weekend. The market trend is basically consistent with the weekend forecast!
If you agree with my views, please like and follow me! The gold strategy will be continuously updated. If you temporarily lose your trading direction or are in a loss state, you are welcome to join my tg channel, where you can find the trading signals you want.
The technical analysis shows that a significant and strong support structure has been formed in the charts of various cycles, among which the 3860 level corresponding to the 5-day moving average on the daily level has become a key support area. If the gold price can effectively hold above this level next week, the daily support level is expected to move further up, thus providing a more solid technical basis for the bulls to push prices to new highs. Combined with the safe-haven demand caused by geopolitical uncertainties and other potential risk events, it is expected that the gold price will have a strong feasibility of breaking through and stabilizing at 3,900 next week.
The above content is my prediction of the gold trend over the weekend. The market trend is basically consistent with the weekend forecast!
If you agree with my views, please like and follow me! The gold strategy will be continuously updated. If you temporarily lose your trading direction or are in a loss state, you are welcome to join my tg channel, where you can find the trading signals you want.
Trade active
The gold price has successfully reached the 3900 mark. The long orders last week were not closed. Today, the market opened at around 3893 and bought again. For friends who have no trading direction, I will wait for you on the tg channel.
Related publications
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.
Related publications
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.