Gold is back at support again and I'm already buying
Updated
Gold has experienced a pullback after hitting a record high on Monday, but it still maintains some upward momentum. Prices are hovering above the 2,400 mark, showing that demand for safe-haven assets remains strong. In addition, the fall in U.S. bond yields from highs has also provided support for gold.
From a technical analysis point of view, gold prices show signs of strong correction and rebound in the form of inverted hammer lines and hammer lines. This also means that the 2400 mark below will become a strong support level and will be difficult to break through. According to the Bollinger Bands indicator, the gold price is near the mid-track, while the KDJ indicator shows a golden cross shape, which all implies that the market will continue to fluctuate and adjust in the short term. However, it should be noted that the MACD indicator shows a dead cross and diverges downward, and the energy column also turns green, which indicates that gold prices may continue to fluctuate in the short term.
Based on the above analysis, I believe that today’s operation will be mainly low buying. Currently I have Buy
From a technical analysis point of view, gold prices show signs of strong correction and rebound in the form of inverted hammer lines and hammer lines. This also means that the 2400 mark below will become a strong support level and will be difficult to break through. According to the Bollinger Bands indicator, the gold price is near the mid-track, while the KDJ indicator shows a golden cross shape, which all implies that the market will continue to fluctuate and adjust in the short term. However, it should be noted that the MACD indicator shows a dead cross and diverges downward, and the energy column also turns green, which indicates that gold prices may continue to fluctuate in the short term.
Based on the above analysis, I believe that today’s operation will be mainly low buying. Currently I have Buy
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