The United States has just released 2 data. Both initial jobless claims and PPI this week are positive for gold, and the PPI data is even more positive than the initial jobless claims data.
After the release of the data, the price of gold rose sharply in a short period of time, once rising to US
2
,048, setting a new high in the past year. From the hourly chart
Gold is sure that this wave of highs has not yet appeared, because the wave of rise in 1950 is obviously an ABC trend. I also drew 123 in the picture to get 4, and the current 100% target position above is around 2064.
2032 is the top of the first wave, so the current break through 2032 means that it is now on the upward trend of wave c.
So the first support for gold will be in 2032, followed by 2020-15.
Therefore, in the next operation, it is recommended to pay attention to the support here at 2032. If it cannot fall here, you can directly rely on 2032 to enter the market and do more, and the upper target is around 2064.
If it falls below 2032, then enter the market to do long in 2020-2015, with the same target of 2064.
Trading straregy:
BUY: 2023 TP1: 2050 TP2: 2064
BUY: 2020-2015 TP1: 2050 TP2: 2064
GOLD
XAUUSD
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