Don’t be afraid, the pullback is an opportunity to go long gold
Gold fell back to around 2365 today, then fluctuated and fell, and currently fell to its lowest level near 2339 and rebounded again. Gold did not fall below the 2335 position during the adjustment process, so gold as a whole still maintains a bullish pattern, and the upward trend has not changed. Therefore, gold will rise again after a short-term pullback.
Judging from the current structure of gold, although gold rose to around 2378 on Friday with the help of news stimulation, it still faces multiple resistances above, so it will take some time for gold to try to hit the 2400 position again. Therefore, there is a demand for gold to pull back to confirm support in the short term. During the correction, gold did not fall below the important short-term support area of 2335, and the bullish pattern of gold was not destroyed, so gold still has room to rise. Therefore, overall, the room for gold's correction is limited, and it is expected that after gold falls slightly, it will still be dominated by a rebound and upward tone.
Then we first focus on the support of the 2338-2236 area below; as long as gold does not fall below this area, a gold correction is an opportunity to go long gold. The top will first focus on the resistance in the 2355-2360 area, which is also the first target area for long gold, and then focus on the 2370-2375 area. Therefore, in the next trading rhythm, we will mainly focus on long gold after the pullback.
Judging from the current structure of gold, although gold rose to around 2378 on Friday with the help of news stimulation, it still faces multiple resistances above, so it will take some time for gold to try to hit the 2400 position again. Therefore, there is a demand for gold to pull back to confirm support in the short term. During the correction, gold did not fall below the important short-term support area of 2335, and the bullish pattern of gold was not destroyed, so gold still has room to rise. Therefore, overall, the room for gold's correction is limited, and it is expected that after gold falls slightly, it will still be dominated by a rebound and upward tone.
Then we first focus on the support of the 2338-2236 area below; as long as gold does not fall below this area, a gold correction is an opportunity to go long gold. The top will first focus on the resistance in the 2355-2360 area, which is also the first target area for long gold, and then focus on the 2370-2375 area. Therefore, in the next trading rhythm, we will mainly focus on long gold after the pullback.
Trade active:
Don’t be afraid, the pullback is an opportunity to go long on gold, and gold will rise again
Trade active:
Gold falls again, this is another opportunity to go long
Trade active:
Wait patiently, gold will continue to rise after consolidation
Trade active:
Gold's rebound confirms that gold will continue to rise, go long gold
Trade active:
Gold fell back to around 2332 and then rebounded quickly. There is still some buying support below. After gold confirms the support, it will be more conducive to the rise of gold.
Trade active:
Gold will continue to rebound
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