Due to the sudden intensification of the conflict between Iran and Israel on Friday, gold quickly rose to around 2417. After the market's risk aversion sentiment cooled down, the price quickly fell back to the resistance level of 2372, and then rebounded to around 2400, but did not effectively break through 2400. At present, the market is still in a volatile trend, but the overall trend is still volatile and rising. It is not recommended to go short. Because geopolitical conflicts in the Middle East may escalate at any time, although Israel and Iran still maintain a certain degree of restraint. As soon as the conflict escalates, the price of gold will soar.
Trading strategy: From the chart, although the price of gold has not reached a new high, it is still fluctuating and rising along the upward trend line, so it is not recommended to sell at the moment. It is also not recommended to buy after the price rises rapidly. Recently, gold has always fallen back quickly after rising high.
At present, gold may fall back to the 2370-2380 range. If the price falls back to this range, you can buy it.
Trading strategy: From the chart, although the price of gold has not reached a new high, it is still fluctuating and rising along the upward trend line, so it is not recommended to sell at the moment. It is also not recommended to buy after the price rises rapidly. Recently, gold has always fallen back quickly after rising high.
At present, gold may fall back to the 2370-2380 range. If the price falls back to this range, you can buy it.