Gold fluctuates higher
Gold is currently in a strong bullish trend, and both technical and fundamental factors support further gains. Gold rose as expected yesterday, closing strongly at around 3000 at the end of the day, showing strong bullish power. The monthly and weekly levels show an obvious bullish trend, and the large cycle supports gold to continue to rise. Both the short-term 4-hour and daily lines show that bulls are dominant and bullish power is sufficient.
Support area: The 3000-2985 range is the current sideways support area. As long as the price does not effectively fall below this area, the bullish trend remains unchanged.
Resistance area: There is currently no obvious resistance above, and gold may continue to break upward.
Buy strategy:
Push back to buy: If the gold price pulls back to the 2990-2985 support area, you can try to buy, with the target above 3000 and the stop loss set below 2975.
Directly buy: If the gold price does not pull back and goes up directly, you can follow up with long orders, with the target at 3050 or even higher, and the stop loss set below 2990.
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Free Signals ：t.me/+HWbck2OfiTtkMGMx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.