Yesterday's CPI data boosted market sentiment, gold rose sharply to
2
,028, and then gave up most of the gains, but because the Fed expected a mild recession in the US economy, gold rose again, and finally stood above the 2010 mark. I think it will continue to test the previous high point of 2032.
Although it almost touched 2032 yesterday, from the current point of view, it is very likely to rush up again today and tomorrow.
Because from the current 8 hours of gold:
The top of the upper trend line is almost around 2050. If it breaks through 2032 today, it is possible to touch around 2050.
But, then again, once it reaches the top 2050, then gold may continue to pull back.
Because the lower trend support line is here in 1980-70, if it has not come down first, it proves that it must go up first and then come down.
So for gold, I suggest paying attention to 2012. If it can be called back here, I suggest that you can enter the market and do more. First look at 2032, and then 2050.
Trading straregy:
XAUUSD: 2012 buy
TP1: 2032
TP2: 2050
XAUUSD
GOLD
GC1!
GOLD1!
MGC1!
Trade active
Trade closed: target reached:
Trade closed: target reached:
Trade closed: target reached
