Gold will continue to rise after correction
Currently, central banks around the world are increasing their holdings of gold reserves, and market sentiment has reacted strongly to bullish factors. Even in the face of sharply negative non-agricultural data, CPI data, and hawkish statements from Federal Reserve officials, gold prices have remained strong. This shows that market sentiment has become indifferent to negative factors. As long as there is slightly positive data, it can promote a new round of rebound in gold prices. In such a market environment, operations need to insist on going long with the trend
Judging from the 60-minute chart, the current 20-day moving average and the 50-day moving average have once again formed a golden cross shape, and the MACD indicator has once again formed a golden cross and is running above the 0 axis. Therefore, the rise will continue, and the main idea is to go long. However, it is not recommended to buy at high levels. The safest strategy is to go long at support levels. At present, we can pay great attention to the resistance range of 2370-2379. If the price falls back to this range, we can buy. The profit-taking range is expected to be in the 2315-2325 range.
Judging from the 60-minute chart, the current 20-day moving average and the 50-day moving average have once again formed a golden cross shape, and the MACD indicator has once again formed a golden cross and is running above the 0 axis. Therefore, the rise will continue, and the main idea is to go long. However, it is not recommended to buy at high levels. The safest strategy is to go long at support levels. At present, we can pay great attention to the resistance range of 2370-2379. If the price falls back to this range, we can buy. The profit-taking range is expected to be in the 2315-2325 range.
Gold has now reached a new high, but there is resistance above and it may pull back. Pay attention to the 2390-2400 range. If the price falls in this range, you can go long.