Gold trend turns, 2360 directly long
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On Wednesday (June 5), despite the strengthening of the US dollar, spot gold still rose by more than $28. Analysts pointed out that the increase in expectations of the Federal Reserve's interest rate cut and the decline in US bond yields provided upward momentum for gold prices. In addition, tensions in the Middle East stimulated gold prices to attract safe-haven buying.
The commander-in-chief of the Iranian Revolutionary Guard Corps warned on Wednesday that Israel would "pay a price" for the air strike launched in Syria on Monday and that Israel must "pay with blood".
Gold prices rose by more than 1% on Wednesday as US economic data was mixed and US Treasury yields fell. The US 10-year Treasury yield fell to its lowest level since April after the ADP employment report released earlier was weaker than expected. The strengthening of the US dollar failed to curb the rise in gold prices. Spot gold closed up $28.45, or 1.22%, at $2,355.11 per ounce on Wednesday.
At present, the outbreak of risk aversion is stronger than the ADP data released last night, and the impact is greater. Therefore, we have been mentioning in the past few days that if the gold price breaks through the strong pressure level of 2,365, the trend will go in the bullish direction next. After the gold price breaks through 2365, the technical bulls are stronger than the bears. The upper pressure is at the 2400 mark, and the previous high of 2450 is even further away.
Therefore, the intraday trading idea is relatively clear. The pressure turns into support. Long orders are placed near 2360, stop loss at 2350, and take profit at 2380.
If you like my analysis, you can leave a message to tell me
On Wednesday (June 5), despite the strengthening of the US dollar, spot gold still rose by more than $28. Analysts pointed out that the increase in expectations of the Federal Reserve's interest rate cut and the decline in US bond yields provided upward momentum for gold prices. In addition, tensions in the Middle East stimulated gold prices to attract safe-haven buying.
The commander-in-chief of the Iranian Revolutionary Guard Corps warned on Wednesday that Israel would "pay a price" for the air strike launched in Syria on Monday and that Israel must "pay with blood".
Gold prices rose by more than 1% on Wednesday as US economic data was mixed and US Treasury yields fell. The US 10-year Treasury yield fell to its lowest level since April after the ADP employment report released earlier was weaker than expected. The strengthening of the US dollar failed to curb the rise in gold prices. Spot gold closed up $28.45, or 1.22%, at $2,355.11 per ounce on Wednesday.
At present, the outbreak of risk aversion is stronger than the ADP data released last night, and the impact is greater. Therefore, we have been mentioning in the past few days that if the gold price breaks through the strong pressure level of 2,365, the trend will go in the bullish direction next. After the gold price breaks through 2365, the technical bulls are stronger than the bears. The upper pressure is at the 2400 mark, and the previous high of 2450 is even further away.
Therefore, the intraday trading idea is relatively clear. The pressure turns into support. Long orders are placed near 2360, stop loss at 2350, and take profit at 2380.
If you like my analysis, you can leave a message to tell me
Dagangan aktif
Gold has stabilized and the upward trend has openedDagangan aktif
Gold has broken through strongly, and the rise is unstoppableDagangan aktif
G7 interest rate cut, gold bulls will start again?Dagangan aktif
The international situation is intensifying again, so it is wise to be bullish on goldDagangan aktif
Gold's adjustment has ended and has stabilized and is bullish. Gold remains bullish today.Dagangan aktif
The rise is only a matter of time, breaking through 2380 is a matter of time.Dagangan aktif
Intraday decline low bullish trend remains unchangedDagangan aktif
Gold remains bullish, direction unchangedDagangan aktif
The direction of gold remains unchanged, the upward trend has been formed, and small capital accounts can stop profit by themselvesDagangan aktif
We are very close to our first target of 2380. I said that gold will definitely break through 2380. It is only a matter of time.Dagangan aktif
Let us wait and see whether gold can have a new breakthrough today.Dagangan ditutup: sasaran tercapai
Perfectly reached our target position 2380, so happy
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