GOLD-Tuesday Analysis
Updated
There was no US economic data released on Monday and Tuesday, but the tension in the geopolitical situation had a great impact on the financial market. Iran confirmed that its president had been killed, which undoubtedly added many uncertainties to the unstable Middle East. Although the helicopter crash has not yet been resolved, if it is confirmed, the Middle East will continue to be on the brink of war. Geopolitics is also the biggest support for this round of gold price rise.
According to the trend of gold falling from highs, 2450 points may be the top, but it still needs to be confirmed. If it fluctuates at a high level on Tuesday and the daily closing is a red candle, then 2450 may be the top of this week. On Wednesday and Thursday, there is room for a big drop. Therefore, for the time being, Tuesday's market is regarded as a range fluctuation, and you can sell high and buy low within the support and resistance points. From a technical point of view, the unilateral moving average support of the daily cycle is 2405 and 2375, and the Bollinger middle rail support of the H4 cycle is 2405. In other words, as long as it falls below 2400 points in the near future, it can be basically determined that gold has peaked at 2450 this week, and the probability of a decline in the later period will increase.
The above strategies are for your reference, but the market changes quickly, and you need to change your strategies in real time according to the trend, so that your success rate will increase.
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