With the government shutdown, data collection and reporting by federal agencies may be delayed or suspended. Therefore, employment and inflation reports scheduled for release in the coming days may not be published, creating uncertainty and fueling a flight to safety.
Since the start of this week, gold has essentially set new all-time highs almost daily. While there have been significant pullbacks, they have been short-lived, and gold has rebounded to new highs. The surge in gold suggests that pullbacks are merely opportunities to buy.
On the 1-hour chart, after reaching its all-time high of 3895, gold's momentum has slowed. The moving average system is flattening out, and after several attempts to break below support, gold has rebounded. In the short term, there is strong support below, with the lowest point reached at 3856. As long as gold doesn't break below 3856, it is likely to continue its strong upward trend.
Trading Strategy:
Buy at 3855, stop loss at 3845, target profit range: 3880-3890-3900.
Since the start of this week, gold has essentially set new all-time highs almost daily. While there have been significant pullbacks, they have been short-lived, and gold has rebounded to new highs. The surge in gold suggests that pullbacks are merely opportunities to buy.
On the 1-hour chart, after reaching its all-time high of 3895, gold's momentum has slowed. The moving average system is flattening out, and after several attempts to break below support, gold has rebounded. In the short term, there is strong support below, with the lowest point reached at 3856. As long as gold doesn't break below 3856, it is likely to continue its strong upward trend.
Trading Strategy:
Buy at 3855, stop loss at 3845, target profit range: 3880-3890-3900.
Market analysis accuracy rate is 76.381%, leading the team to 300% market profit. Welcome to join.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Market analysis accuracy rate is 76.381%, leading the team to 300% market profit. Welcome to join.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.