This week, multiple factors intertwined to affect the gold price. The tariff policy was settled on Wednesday, and the ADP data also caused market turmoil; the non-farm data on Friday will test the market again, with risks and opportunities coexisting. Against this background, gold has shown its charm as a safe-haven asset. The decline of the US economy, the intensification of the US debt crisis, and the geopolitical tensions in the Middle East have all provided impetus for the rise in gold prices.
From a technical perspective, gold fell back quickly after opening high in the morning, but then stabilized and rebounded. The weekly, daily and 4-hour lines all showed a bullish trend, with strong upward momentum. On the hourly chart, gold maintained a good upward trend, with previous highs and lows rising continuously, and bulls dominated. The current upper resistance is in the 3135-3138 range, and the lower support is in the 3111-3107 range. In terms of operation, it is recommended to do more on the callback and supplement it with high rebound.
Operation strategy 1: It is recommended to buy at 3105-3100, stop loss at 3093, and the target is 3120-3140.
Operation strategy 2: It is recommended to sell at 3130-3135, stop loss at 3142, and the target is 3110-3100.
From a technical perspective, gold fell back quickly after opening high in the morning, but then stabilized and rebounded. The weekly, daily and 4-hour lines all showed a bullish trend, with strong upward momentum. On the hourly chart, gold maintained a good upward trend, with previous highs and lows rising continuously, and bulls dominated. The current upper resistance is in the 3135-3138 range, and the lower support is in the 3111-3107 range. In terms of operation, it is recommended to do more on the callback and supplement it with high rebound.
Operation strategy 1: It is recommended to buy at 3105-3100, stop loss at 3093, and the target is 3120-3140.
Operation strategy 2: It is recommended to sell at 3130-3135, stop loss at 3142, and the target is 3110-3100.
Trade active
Operation strategy 1: It is recommended to go short at 3134-3139 on the rebound, stop loss at 3144, and the target is 3115-3110.Operation strategy 2: It is recommended to go long at 3110-3105 on the pullback, stop loss at 3095, and the target is 3140-3160. If you are bruised and battered in the market, you can click on the link, I am determined to help you get back on your feet
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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.
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.