Gold's rise has reached its peak and is bound to fall
Updated
https://www.tradingview.com/x/6ILjYVSe/
After the opening of the Asian trading session on Monday (April 1), spot gold rose sharply, with the gold price reaching a maximum of $2,265, a record high.
Global geopolitical tensions are one of the reasons for the rise in gold prices, and investors may consider gold as a neutral reserve asset. Strong safe-haven demand, expectations of U.S. interest rate cuts and central bank buying have given gold prices another upward momentum.
The short-term cycle is currently experiencing high fluctuations, and there is demand for a pullback. Therefore, in the current short cycle, we are waiting for the end of the hourly and 4-hour bulls; then we are currently focusing on the high point of 2270, breaking through the price and continuing to surge upward. On the contrary, there will be demand for the price to fall back.
My suggestion is to go short near the high price of 2265-2268 US dollars.
TP: USD 2150
Second TP: $2142
SL: $2278
After the opening of the Asian trading session on Monday (April 1), spot gold rose sharply, with the gold price reaching a maximum of $2,265, a record high.
Global geopolitical tensions are one of the reasons for the rise in gold prices, and investors may consider gold as a neutral reserve asset. Strong safe-haven demand, expectations of U.S. interest rate cuts and central bank buying have given gold prices another upward momentum.
The short-term cycle is currently experiencing high fluctuations, and there is demand for a pullback. Therefore, in the current short cycle, we are waiting for the end of the hourly and 4-hour bulls; then we are currently focusing on the high point of 2270, breaking through the price and continuing to surge upward. On the contrary, there will be demand for the price to fall back.
My suggestion is to go short near the high price of 2265-2268 US dollars.
TP: USD 2150
Second TP: $2142
SL: $2278
Trade active
Gold is undergoing a short-term correctionTrade active
Gold prices are expected to continue to fluctuate and fall within a narrow rangeTrade active
Gold is now showing a downward trendTrade active
Gold price now near $2,250Trade active
Although gold is currently showing a downward trend, in order to prevent gold from rebounding, do not place heavy positionsTrade active
Wait for gold price to reach around $2240Trade active
When the price of gold reaches around $2,243An upward rebound occurs
Trade active
Gold prices have now fallen to $2,235Trade active
Gold prices now plummet, down $30 from peakTrade active
Gold has rebounded briefly after continuing to fall, but the overall trend will be downwardTrade active
After a brief rebound in gold pricesIt is now down near $2238
Trade active
Gold is currently showing a strong downward trend and is expected to be supported around $2,220
Trade active
Gold prices are currently in a state of shockTrade active
Gold price is pulling back due to resistance from aboveNote
Gold hits new highsNote
Gold prices are falling fast
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