Yesterday I said that although the risk aversion has eased, gold remains high and will continue to rise as long as the adjustment is over. The result is self-evident.
As Trump pushed forward the possible expansion of tariff trade investigation last night, the slightly subsided risk aversion ushered in a rise again, and the gold price also hit a new record high of 3317 under the demand for safe-haven assets.
The Trump administration launched an investigation into the necessity of tariffs on key minerals, which is obviously the latest move to expand trade risks.
Therefore, my view in the general direction is to continue to be bullish, but you can't chase the rise. You need to wait for a retracement before intervening.
According to the Fibonacci retracement level of this rise, the 0.618 position is 3270, and the 0.5 position is 3255. Therefore, as long as it does not fall below these two points, it can continue to be bullish.
Today I will wait for the support situation at 3270 to consider whether to intervene.
As Trump pushed forward the possible expansion of tariff trade investigation last night, the slightly subsided risk aversion ushered in a rise again, and the gold price also hit a new record high of 3317 under the demand for safe-haven assets.
The Trump administration launched an investigation into the necessity of tariffs on key minerals, which is obviously the latest move to expand trade risks.
Therefore, my view in the general direction is to continue to be bullish, but you can't chase the rise. You need to wait for a retracement before intervening.
According to the Fibonacci retracement level of this rise, the 0.618 position is 3270, and the 0.5 position is 3255. Therefore, as long as it does not fall below these two points, it can continue to be bullish.
Today I will wait for the support situation at 3270 to consider whether to intervene.
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If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.