🔥Gold Analysis Strategy for April 9The current fluctuations in gold prices are mainly affected by market news, and the rise and fall depend on the intensity of the selling.
whether it is the impact of risk aversion caused by war factors or the economic impact of whether the United States cuts interest rates, it is undoubtedly supporting gold. If it continues to rise, then as long as there is no major bad news in the market, gold will not have a major correction. Therefore, whether it is short-term or long-term, we will continue to be bullish on gold!
Gold is currently rising directly to a new high. The support point of gold has gradually moved up from around 2330 yesterday to around 2345 now. The current daily trend of gold maintains a volatile and strong pattern, and the intraday price fluctuations are large. On the 4-hour chart, the price of gold is temporarily fluctuating at a high level within a narrow range, and the K-line continues to remain strong above the short-term moving average. On the 1-hour chart, after continuous shocks, the technical form is gradually repairing, and the K-line gradually stabilizes the short-term moving average, suggesting that the short-term trend is still possible to continue upward. The 30-minute chart shows that the double top has been broken through, and a support point has been formed near the previous strong top of 2345. As long as the price remains above 2345, it is an opportunity to go long on dips.
Although there is momentum to continue rising in the short term, the higher the high, the greater the risk, so be sure to bring a stop loss, because there is no resistance reference above, so it is not sure where the high point will be.
In summary, the short-term operation of gold today is mainly based on callback longs, supplemented by rebound shorts. The top short-term focus is on the 2370-2373 resistance range, and the bottom short-term focus is on the 2345-2347 support range.
