The recent data are all positive for gold, which is still in the rate hike cycle. Although the rate hike market is coming to an end, gold has already stepped out of the trend of rate cuts. Driven by 1 billion funds, the scale of funds that appeared last week was around 7 billion. As long as gold does not continue to fall below 2000 this week, it will still be in an upward trend.
Although gold had a deep correction on Friday, it did not really change the upward trend. The daily trend is obviously upward, this time it is only stepping on the middle track of the Bollinger Band, and it has not really turned into a downward trend! This callback is mainly affected by the US dollar index and interest rate hike expectations! And technically close to the historical high near 2070, adjustment is inevitable!
The adjustment is just up! So, this pullback is part of the momentum before breaking out to new highs again! The pullback is precisely an opportunity to go long again! The 1985 support level is the watershed between long and short. In this position, gold continues to do more! Unless we break below 1980, we will not change our bullish thinking!
Next, we will continue to break through 2020 and continue to test the 2070 mark. After the breakthrough, we will be clear at a glance!
For short-term trading friends, you only need to do it step by step. In terms of strategy, you can repeatedly go long on dips, and run away if you make a profit. For detailed real-time strategy, you can follow me, or find me on the homepage.
Current position TP1: 2020, look at 2030 after breaking through
The middle line of the transaction needs to be grasped according to one's own capital position, and patience is required.
GOLD
GC1!
XAUUSD
MGC1!
