Gold bulls return again
Gold resumes its upward trend: Geopolitical risks + tariff upgrades help gold prices break through
Market drivers:
Gold broke through the shock range this week, mainly catalyzed by two major events:
Trump's tariff policy upgrade - the United States announced tariffs on some goods over the weekend, triggering market risk aversion;
Geopolitical tensions - the situation in the Middle East has heated up again, and safe-haven buying has poured into gold.
Technical breakthrough confirmation:
4-hour cycle: Gold prices successfully broke through the downward trend line suppression and stood firm at the key resistance of 3325, marking the restart of the main upward wave;
Top and bottom conversion support: The previous resistance of 3325 turned into support, and the next key support area moved up to 3340-3350;
Upward target: If it stands firm at 3350, bulls will further challenge the 3370-3400 area.
Trading strategy:
Short-term: If the price falls back to 3340-3350 and stabilizes, long orders can be arranged, with a stop loss below 3325 and a target of 3370-3400;
Mid-term: After breaking through 3400, the upward space will be further opened, and the next target will be 3450-3480.
For short positions, short positions can be tried based on the previous high of 3365 in the 4-hour period, and attention should be paid to the resonance in the current trend structure. If the long position stabilizes at 3370, the stop loss should be strictly enforced.
Conclusion: Gold has entered a strong stage driven by both technical and fundamental factors. After short-term adjustments, it is still mainly low-long, and attention should be paid to the geopolitical situation and the trend of the US dollar.
