The gold trend takes a sharp turn, is a bear market coming?

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🗞News side:

1. PMI and initial jobless claims data
2. Geopolitical situation
3. Progress of the G7 meeting

📈Technical aspects:

During the Asian session, gold prices approached a two-week high. However, as the market digests the previous positive news and European and American economic data are about to be released intensively, gold's short-term trend faces uncertainty. The key data that everyone needs to pay attention to today include the May PMI data and the number of initial jobless claims in the United States. At the same time, the international trade situation, geopolitical dynamics, the progress of the G7 meeting and the speeches of Federal Reserve officials may have an impact on the market, so it is recommended that everyone keep a close eye on the impact of the news. Judging from the 4H market trend, the US market is paying attention to the short-term support around 3280-3275. Once it stabilizes above 3280, you can arrange to go long. On the contrary, once it falls below 3280-3275, it is possible to fall to the important support area of 3260-3250.

If you agree with this view, or have a better idea, please leave a message in the comment area. I look forward to hearing different voices.

XAUUSD XAUUSD GOLD XAUUSD XAUUSD

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Dagangan aktif

As expected, the gold price tested the 3280 level again, which is in line with our trading expectations.

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Dagangan ditutup: sasaran tercapai

There is currently no unilateral trend in gold during the U.S. trading session. Although the bears are dominant, the bulls' counterattack is also powerful. Short-term trading should be treated as volatile as a whole, and the trading strategy of high-altitude and low-multiple should be maintained. Our trading strategy is still valid. Pay attention to the short-term resistance of 3320 on the top, and the strong resistance is 3350