Long

Is gold going up or down?

Gold is showing the characteristics of a fluctuating upward trend. In terms of support, first pay attention to the vicinity of 3290, which is the low point touched by the gold price in the early stage of yesterday. Secondly, pay attention to the support near 3270, which is the current corresponding support position of the rising channel formed by connecting high and low points since the gold started to rise at 3120. As for the upper resistance near 3350-3370, it is the area that needs to be paid attention to at present. From a technical point of view, the next wave of rise may go to the daily Bollinger upper rail suppression point near 3400, so there is still good room for rise. The technical points of the unilateral rise in the H4 cycle are quite obvious. The Bollinger opening and the moving average system diverge upwards. The upward momentum is sufficient. The upward trend does not guess the top. The support point of the decline is on the moving average support. The expected support point is 3305. In principle, a trend long order is made at this point. It is believed that as long as the 3290 position is maintained, it is still bullish. The long defense position is the 3250 mark. This position is the key watershed for the pull-up and retracement. The key point of the rise is 3350. Here we see whether there can be an effective short-term decline. Gold rose directly in the morning. It is recommended not to chase the long in the Asian and European sessions, but to go long after the decline. Pay attention to the gains and losses of the resistance of 3350-3370 during the day.

NeilSteele

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NeilSteele