Gold space is correcting after Friday's sharp gains.
The basic point of this week's market rhythm is the continuation and supplement of last Friday's strong market. In the process, the first half of the week is to correct and gain momentum, and the second half of the week is to start and accelerate. Then on Friday, it will be observed whether it bottoms out and rebounds or rises and falls. The market rhythm of the week provides the basis point.
Last week, the price swept back and forth around the ascending channel range, until the subsequent price breakthrough accelerated, and the strong resistance line position turned into a strong support area after the breakthrough.
Then there is the defensive line of the support area, which is the 1900-1898 area of the upper track of the channel line. We need to focus on this. Hold here and the price will continue to maintain the upper range. Even if it steps back here, it will still rise if it falls. During the correction, continue to climb upward after confirming the support.
Last week, the price swept back and forth around the ascending channel range, until the subsequent price breakthrough accelerated, and the strong resistance line position turned into a strong support area after the breakthrough.
Then there is the defensive line of the support area, which is the 1900-1898 area of the upper track of the channel line. We need to focus on this. Hold here and the price will continue to maintain the upper range. Even if it steps back here, it will still rise if it falls. During the correction, continue to climb upward after confirming the support.