✅At present, the 1-hour moving average of gold continues to diverge upward, showing that the bullish trend of gold is still strong and there is still room for bulls. The price of gold continues to hit new highs on the 1-hour chart, indicating that the market sentiment is obviously bullish. When it pulls back to the key support level, it is still a good opportunity to continue to go long.
✅Specifically, the previous high point of gold at 2725 has formed support. If the price falls back to around 2725 during the US trading session, you can consider continuing to go long. Be flexible in the operation process and avoid sticking to a single idea. Since gold has broken through the strong bullish trend, we should follow the trend and follow the pace of gold bulls.
✅In the short term, the upper resistance level is mainly concentrated in the 2750-2760 range, while the lower support level is in the 2721-2725 range. When operating, you can focus on these two key areas. When falling back to the support level, you can consider adding positions to go long, and when the upward approach is close to the resistance level, be careful of possible callback risks.
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.
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.