On April 4, gold was correcting its recent extreme overbought conditions. The 4-hour chart showed that technical indicators fell sharply, almost vertically downward, but still well above the midline. The highs and retracements have not changed gold's original bullish technical barriers. The large structure does not require too much analysis at present, and it is a relatively obvious bullish trend. Not to mention the previous increase in the monthly K line, the physical Dayang K in March is enough to support gold's certain increase in April. Week K also rose by 100+ US dollars starting from 2146 after the weekly red three soldiers, and there is currently no sign of retreat. At this stage, the small cycle operation of hourly and four-hour lines cannot judge the effective resistance above. Without significant bad news or a rapid decline caused by a large number of selling, gold will still be mainly long.
Looking at the 60-minute chart, the 20-day moving average and the 50-day moving average extend upward in parallel, and the MACD indicator is also well above the 0 axis, indicating that it is still in a strong upward stage. Unless there is major news that is not conducive to the rise, the rise will continue.
The first support level is seen near $2,288. If the price falls back to $2,285-2,288, you can go short and long. Highs above are expected to be around $2,315.
If the price falls below $2,280, the price may then fluctuate in the range of $2,265-2,288. But as long as the price touches around $2,165, you can still go long.
Looking at the 60-minute chart, the 20-day moving average and the 50-day moving average extend upward in parallel, and the MACD indicator is also well above the 0 axis, indicating that it is still in a strong upward stage. Unless there is major news that is not conducive to the rise, the rise will continue.
The first support level is seen near $2,288. If the price falls back to $2,285-2,288, you can go short and long. Highs above are expected to be around $2,315.
If the price falls below $2,280, the price may then fluctuate in the range of $2,265-2,288. But as long as the price touches around $2,165, you can still go long.
Comment:
The price has now fallen back, and as long as it does not fall below $2,280, it will continue to rise smoothly.
Comment:
Gold has encountered effective support near 2285 and will continue to rise
Gold has encountered effective support near 2285 and will continue to rise
Comment:
Gold hits $2,300 again
Gold hits $2,300 again
Comment:
Gold is currently in the stage of falling after an upward surge. If the price does not fall below $2,282, it will continue to rise.
Gold is currently in the stage of falling after an upward surge. If the price does not fall below $2,282, it will continue to rise.
Comment:
The price rises again to around $2,300, conservatives can close long positions first
The price rises again to around $2,300, conservatives can close long positions first