Since the Fed’s interest rate decision was announced, gold’s second attempt to break above the 3700 mark fell short, leading to a sharp subsequent decline. The market then began to question the uptrend and fear a deep correction. Last Friday, market sentiment was almost unanimously bearish on a pullback, with the view that after rebounding to 3670, gold would drop a second time and break below the 3630 level. However, I clearly stated in my article last week that we should use the area below 3620 as the defensive level and continue going long at 3650. Sure enough, gold surged to above 3680 in late trading on Friday.
Currently, gold has broken through the critical resistance level of 3710 and continues to move higher. We can seek opportunities to go long at lower prices
In our weekend analysis, we predicted that gold would continue its upward movement in the new week, with 3710 as the resistance level. As it turns out, gold indeed broke through 3710 today and kept moving higher.
Buy 3680 - 3690
TP 3700 - 3710 - 3720
Daily-updated accurate signals are at your disposal. If you run into any problems while trading, these signals serve as a reliable reference—don’t hesitate to use them! I truly hope they bring you significant assistance
Dagangan aktif
Gold continues to maintain a robust upward momentum, having decisively broken above the 3730 level and is now poised to challenge 3740 today.
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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.