Gold continues to strengthen and fluctuates widely in the short

Gold stabilized near the 200-period moving average at the beginning of this week, and the current upward trend is supported by the daily chart oscillator indicators. Both the daily RSI and MACD remain in the bullish range, with obvious momentum;
The upper target is concentrated in the 3167-3168 US dollar line, which is the historical high set at the beginning of this month; if it successfully breaks through this area, the gold price may enter a new upward channel.
In the short term, the support level below $3100 is concentrated in the 3065-3060 US dollar range, and a break below it will open a downward channel to $3000. The $3000 mark coincides with the 200-period moving average of the 4-hour chart, which is the key long-short dividing point;
If it falls below this point, it means that gold has entered the correction stage, and bulls need to remain vigilant; but the current fundamentals and market sentiment still strongly support the gold price to maintain high volatility.
The upper target is concentrated in the 3167-3168 US dollar line, which is the historical high set at the beginning of this month; if it successfully breaks through this area, the gold price may enter a new upward channel.
In the short term, the support level below $3100 is concentrated in the 3065-3060 US dollar range, and a break below it will open a downward channel to $3000. The $3000 mark coincides with the 200-period moving average of the 4-hour chart, which is the key long-short dividing point;
If it falls below this point, it means that gold has entered the correction stage, and bulls need to remain vigilant; but the current fundamentals and market sentiment still strongly support the gold price to maintain high volatility.
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Active tradingFocus on the upcoming release of the US Consumer and Producer Price Index for March. If CPI is higher than expected, it will suppress expectations for interest rate cuts and put pressure on gold prices in the short term; if CPI and PPI are weak, it is expected to strengthen the logic of interest rate cuts and support the continued upward trend of gold
Senior Financial Analyst Main expertise: Analysis of financial products such as gold, US dollar, digital currency, etc. Telegram link: t.me/+43sO_tENBOswYWMx
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Senior Financial Analyst Main expertise: Analysis of financial products such as gold, US dollar, digital currency, etc. Telegram link: t.me/+43sO_tENBOswYWMx
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.