The March retail sales data released by the United States overnight on Tuesday exceeded expectations. The U.S. dollar and U.S. Treasuries continued to climb, and for a time precious metals plunged. However, risk aversion then dominated the market and gold and silver returned to their gains. Because the Israeli military said it would respond to Iran's attack. Therefore, the current gold price is still on the rise.
Yesterday I said that once the gold price breaks through 2372, it will hit the 2390-2400 range, so today's highest point reached 2392, which is consistent with my prediction. Judging from the 60-minute chart, the MACD indicator is currently running above the 0 axis, and gold has entered a bullish trend in the short term. Although the price has now fallen back to the resistance range of 2360-2372, it will continue to rise in the future.
Therefore, the current range of 2360-2372 is a good buying opportunity, and the profit-taking range for bulls is 2390-2400.
Yesterday I said that once the gold price breaks through 2372, it will hit the 2390-2400 range, so today's highest point reached 2392, which is consistent with my prediction. Judging from the 60-minute chart, the MACD indicator is currently running above the 0 axis, and gold has entered a bullish trend in the short term. Although the price has now fallen back to the resistance range of 2360-2372, it will continue to rise in the future.
Therefore, the current range of 2360-2372 is a good buying opportunity, and the profit-taking range for bulls is 2390-2400.
Comment:
The price currently encounters resistance near 2400, but it is only a matter of time before it breaks through 2400
The price currently encounters resistance near 2400, but it is only a matter of time before it breaks through 2400
The current trend of gold is consistent with my prediction. The price will continue to rise after falling back to around 2363. The next step will be to break through 2400.