The important support of gold is in 1961, go long
Risk aversion broke out again. Gold rose sharply in the U.S. market yesterday, breaking through the resistance level of 1961-1965. It was under pressure in 1983 and remained in a range today. There is weak support around 1975-1973, and the best support is in the range of 1957-1961. If it falls here, as long as there is no news that is not good for gold, there is a high probability that it will rise.
The specific strategy is:
1975-1967 Support valid:
Purchase time: 1975-1967
tp1:1979-1982
tp2:1984-1988
Stop loss below 1960
1980-1983 range resistance failed to break
Sales period: 1980-1983
Time: 1973-1967
Break through 1985 stop loss
Trade active:
has started to rebound
Trade active:
Gold began to take profits in batches
Trade active:
1982
Trade active:
1988
Comment:
It broke through the 1988 resistance, and it still has the upward momentum. If there is no accident, it will break through the previous high near 2009
Comment:
Received resistance near 1995, pay attention to support near 1988
