Interpretation of technical analysis of gold market opening oper

20 Apr

Due to the influence of Easter, the market was closed on Friday this week. After hitting a high of 3357, gold also ushered in a short-term adjustment! In the previous interpretation, we also emphasized to everyone that after hitting a new high, we should guard against the pullback caused by profit-taking. Especially at the critical time point when the market is about to close, but this does not mean the end of the bullish trend. After the sharp rise in gold, although there is selling pressure, gold still rose by 2.5% this week and closed above 3300.

So how should we trade gold next week?

The biggest driving factor for the rise in gold prices this time is Trump’s repeated tariff policy, coupled with the recent tense geopolitical situation, and the pace of global central banks buying gold. In the medium and long term, it is still a driving force for gold to rise.

Short-term operation: Pay attention to the first support level, which is 3310, which has been touched many times.

Short-term key support below: 3285-90

Short-term focus on high points above: 3340-45

If the breakthrough accelerates to the historical high point, everyone should be cautious in chasing more!

20 Apr

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