Setting new highs, it is right to go long on the pullback
I reminded everyone yesterday that once the W-shaped formation is confirmed and structural support is provided for the bulls, the upward trend will continue. The final result is in line with our expectations again. Gold is still fluctuating upward. If this trend continues, it is expected to reach 4210-4230.
As the price of gold continues to rise and returns to a unilateral upward trend, the short-term highs and support are also moving up. From the perspective of the big cycle trend, the current daily MA5 moving average and the 4H middle track have also come to around 4088-4090, which is also the position that short-term bulls need to focus on defending. Before failing to effectively fall below this position, we can still maintain the bullish trend unchanged, and any decline can be regarded as an opportunity for bulls to enter the market.
Judging from the hourly chart, the current gold price has reached the 42,000 integer mark. The continuous upward fluctuation has caused the current technical indicators to enter the overbought risk zone. Do not blindly chase the rise in the short term and be alert to the market's potential correction demand. The short-term support can be seen at 4180-4165. If gold subsequently falls back to this short-term support, we can consider continuing to go long on gold.
XAUUSD
As the price of gold continues to rise and returns to a unilateral upward trend, the short-term highs and support are also moving up. From the perspective of the big cycle trend, the current daily MA5 moving average and the 4H middle track have also come to around 4088-4090, which is also the position that short-term bulls need to focus on defending. Before failing to effectively fall below this position, we can still maintain the bullish trend unchanged, and any decline can be regarded as an opportunity for bulls to enter the market.
Judging from the hourly chart, the current gold price has reached the 42,000 integer mark. The continuous upward fluctuation has caused the current technical indicators to enter the overbought risk zone. Do not blindly chase the rise in the short term and be alert to the market's potential correction demand. The short-term support can be seen at 4180-4165. If gold subsequently falls back to this short-term support, we can consider continuing to go long on gold.
XAUUSD Dagangan aktif
I said before that gold may reach 4210-4130, which now seems a bit conservative, but I still maintain the view of going long after a pullback. If you want to short, based on the trend chart I drew, I think 4135-4140 above may be a good position. Of course, this is for reference only. What do you brothers think about this?
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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.