Gold is about to usher in another big opportunity
Updated
Gold surged strongly yesterday, breaking through $2000 to around $2025. My friends made a profit of 300% in yesterday's trading, and I congratulate them! So far, the highest point for gold is around $2028, at which point we need to look to past trends for reference.
In recent years, gold has only risen above $2050 in 2020 and 2022. Based on past trends, there is resistance around $2035, followed by the highs of 2069 in 2022 and 2073, which was the historical high in 2020. These are the known important resistance levels, and we have no basis to predict where it will go if it breaks through 2073.
Moving on to support levels, the 30-minute moving average MA60 is around $2010, and the other 5/10/20/30 are close together, around $2024-2025. The 60-minute MA30 is around $2010, and the MA60 is around $1993. On the 1-day chart, MA5 is located around $1996, MA10 around $1986, and MA20 around $1956.
Based on the moving average, the support levels are around $2010-2013, followed by $1993-1996, and then $1986-1956. Therefore, the key focus for recent gold trading is on these points, allowing for buying low and selling high or one-way trading, depending on the direction of the market.
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