As mentioned yesterday, the upward trajectory of gold necessitates certain catalysts. Today, the influence of geopolitical factors has intensified, propelling gold to a peak of 2688. Concurrently, the latest U.S. initial jobless claims data was released, yielding a bearish impact that temporarily reduced gold prices to 2673, before a swift rebound brought them back to 2680.
With the two primary news items now available, it's evident that bullish sentiment significantly outweighs bearish pressure, with substantial upside potential awaiting a breakout. The sustained appreciation of the U.S. dollar amidst geopolitical tensions further underscores the dual role of both gold and the dollar as safe-haven assets. Thus, until the geopolitical landscape stabilizes, a low-position buying strategy for gold remains prudent.
Buy: 2670-2675
Sell: 2700
Profit margins should be managed according to individual risk tolerance.
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The highest position reached 2696Trade active
Quick trading strategies have generally shown favorable profitability. How are your profits performing? Our quick trading team periodically releases market reference materials; feel free to follow for real-time updates. This will provide valuable support for your trading decisions. If you have any questions, please don’t hesitate to reach out to me.Trade active
Continue to short. Short at current price, the strength of shorts is obviously stronger than that of shorts. The target is below 2480. If you think that the profit of 8 points is acceptable, then you can short.
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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.