Can gold break through 2070 next week?
Updated
To invest, you must first establish a correct investment philosophy, which is the root of everything. Secondly, do a good job in position and fund management. The most important thing is to maintain a good attitude. Don’t be proud when you make a profit, and don’t be discouraged when you lose. In addition, you should have a solid technical foundation; The correct road guides the way to go, use Taoism to control the essence, see the essence through the appearance, experience the long-short game from behind the k-line, the main force's fighting contest, follow the footsteps of the market, respect the market, respect the market, and follow the market.
Due to the biggest failure of the U.S. banking industry since the 2008 financial crisis, the bankruptcy of Silicon Valley Bank shocked the market, triggered panic, further aggravated risk aversion, and led to a frenzied rise in gold, which once broke through the 1900 mark. Affected by the impact of the banking crisis and the market's further bets that the Federal Reserve will not be so aggressive in fighting inflation, gold has risen strongly by more than $110 this week, its biggest weekly gain in four months. The bank failures are an unintended consequence of the Fed's fight against inflation, which may need to dampen enthusiasm for rate hikes at the upcoming March FOMC meeting.
https://www.tradingview.com/x/Fgu4vnce/
Gold was under pressure in the early stage of 1960 and fell to 1804 to be supported. Then in 1809, it formed a W double bottom pattern and ushered in a strong unilateral rise. Affected by the news of the Federal Reserve this week, gold started a skyrocketing mode, directly breaking through the 1900-1937 mark from the position of 1871. At the end of the week, it broke through the previous high of 1960 to around 1990. Its momentum speaks for itself.
To sum up: next week, the fundamentals will continue to be positive; technically, the callback will continue to be long; in terms of position, we need to pay attention to and wait for the opening of next week to make a choice. Next week will mainly be called back to do more
Due to the biggest failure of the U.S. banking industry since the 2008 financial crisis, the bankruptcy of Silicon Valley Bank shocked the market, triggered panic, further aggravated risk aversion, and led to a frenzied rise in gold, which once broke through the 1900 mark. Affected by the impact of the banking crisis and the market's further bets that the Federal Reserve will not be so aggressive in fighting inflation, gold has risen strongly by more than $110 this week, its biggest weekly gain in four months. The bank failures are an unintended consequence of the Fed's fight against inflation, which may need to dampen enthusiasm for rate hikes at the upcoming March FOMC meeting.
https://www.tradingview.com/x/Fgu4vnce/
Gold was under pressure in the early stage of 1960 and fell to 1804 to be supported. Then in 1809, it formed a W double bottom pattern and ushered in a strong unilateral rise. Affected by the news of the Federal Reserve this week, gold started a skyrocketing mode, directly breaking through the 1900-1937 mark from the position of 1871. At the end of the week, it broke through the previous high of 1960 to around 1990. Its momentum speaks for itself.
To sum up: next week, the fundamentals will continue to be positive; technically, the callback will continue to be long; in terms of position, we need to pay attention to and wait for the opening of next week to make a choice. Next week will mainly be called back to do more
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