Has the price of gold peaked?Where will the gold price be adjust

Due to the impact of the Good Friday market closure and waiting for guidance on non-farm payrolls data, market trading was relatively light.Overall, the US dollar bottomed out and rebounded in the previous trading day, prompting some gold bulls to take profits before the non-farm payrolls data. There is still a risk of further pullback in the short-term gold price. However, because the US dollar is still weak, US bond yields continue to fall, and the market's pessimistic expectations of US non-farm payrolls and other data have increased, and the gold price is still biased towards bulls in the future, so even if the gold price declines from its recent high, gold's bullish tendency has not changed.Therefore, we must pay attention to the support of buying on dips to the gold price.

Judging from the current gold trend, gold will be corrected in the short term, and it is currently under pressure on the first line of 2023-2024. Here, before an effective breakthrough, it will not strengthen and rise, and it is in a certain shock suppression, and there is still room for further pullback.But overall, the pullback correction is also for the bulls to gain momentum.Due to the large fluctuation base, short-term operations test the entry point more, so the entry point must be more accurate, otherwise it will be easy to be wiped out first.

Short-term trading reference:

First, sell gold in batches near the 2015-2018 position, with a stop loss level of 2023 and a take profit level of 2006. If the position is broken, the profit target is 2000.

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