Gold will continue to rise after correction
The bullish trend of gold is obvious. In the current global environment, the factors driving the rise of gold prices have gone beyond a single decision to increase or decrease interest rates on the US dollar. The global political situation is turbulent, the economy continues to slump, and the conflict between Russia and Ukraine has fallen into a long-term tug of war with no signs of stopping and is likely to escalate. Tensions between the United States and Russia have even spread to the Middle East, with Israel and Iran on the verge of war. Behind all this, the United States' global intervention and strategy of accelerating the dollar's harvest of the global economy are prompting funds to flow back to the United States, thereby hollowing out the global economy. At the same time, the United States used the huge additional issuance of U.S. dollars to buy global core assets. In such a competition between global powers, gold has become increasingly important and has become the first choice for safe-haven assets. Therefore, we have reason to believe that this year is a bull market year for gold, and gold will play a greater role in the fluctuations of the global economy.
Looking at the 60-minute chart, the 20-day moving average once again crosses the 50-day moving average upward, forming a golden cross, and the MACD once again forms a golden cross above the 0 axis, indicating a very strong upward signal. However, the specific trading strategy is best to wait for the support level to go long. Today, focus on the $2330-2348 range. If the price falls back to this range, you can go long. I will update the take-profit price for long orders in real time. You can pay more attention to my updates.
Looking at the 60-minute chart, the 20-day moving average once again crosses the 50-day moving average upward, forming a golden cross, and the MACD once again forms a golden cross above the 0 axis, indicating a very strong upward signal. However, the specific trading strategy is best to wait for the support level to go long. Today, focus on the $2330-2348 range. If the price falls back to this range, you can go long. I will update the take-profit price for long orders in real time. You can pay more attention to my updates.
Comment:
The current price has fallen back to the 2330-2348 range I mentioned. As long as the price does not fall below 2330, you can buy multiple orders. The current price is still on the upward trend.
The current price has fallen back to the 2330-2348 range I mentioned. As long as the price does not fall below 2330, you can buy multiple orders. The current price is still on the upward trend.
Comment:
Judging from the 2-hour chart, the price of gold has stepped back to the 20-day moving average and is currently rebounding and rising.
Judging from the 2-hour chart, the price of gold has stepped back to the 20-day moving average and is currently rebounding and rising.
As I predicted, gold rebounded and continued to rise after falling back to around $2,348, and the price is likely to break through $2,365.