The bullish trend is evident for next week:
Last week, gold hit a bottom and gradually stabilized and rebounded from the 1809 level, turning around from the ADP report on Wednesday. Thursday and Friday saw two strong bullish candles, with the highest reaching $1870. The weekly candlestick formed a long lower shadow hammer, and the weekly candle has repeatedly tested but not broken the 1800 level, confirming the importance of the 1800 level support in the medium term. The bullish trend on the weekly level is now evident, and the direction for the future is gradually becoming clear.
Reasons for the strong rebound:
There are two reasons for the strong rebound of gold on Friday. First, although the non-farm payroll data showed employment figures of 300,000, which is greater than the expected 200,000, it is still negative compared to the previous value of 500,000. Therefore, the non-farm payroll data is actually positive despite appearing to be negative. Second, the uncertainty of the Russian-Ukrainian political situation has been a long-term main factor in keeping gold at high levels, and there may be sudden news that stimulates the gold price. The possible collapse of Silicon Valley Bank is the third reason, which may mean a repeat of the financial crisis, so more funds will flow into the gold market in the coming days, driving up the demand for hedging.
Reasons for bullishness:
The only factor in the market that can suppress gold is the hawkishness of the Federal Reserve. However, in order to stabilize the dominance of the US dollar, which they do not want to see weakened, the Federal Reserve can only continue to raise interest rates to curb inflation. However, under continued high interest rate pressure, the Federal Reserve also finds it difficult to persist in the long term. They have already begun to slow down the pace of interest rate hikes, and a rate cut in the future is inevitable, but the time has not yet come. Therefore, remember that the hawkishness of the Federal Reserve is only a short-term suppression, and there will be a mid-term bullish opportunity for gold and silver.
Gold is likely to continue its bullish trend next week and aim for the 1900 level. If there is no significant data release, the pace of upward stability will continue.
Therefore, you can take advantage of this trend and I will provide real-time trading strategies for everyone to reference. Opportunities are fleeting, so be sure to stay tuned to avoid missing trading opportunities.
GOLD
XAUUSD
GC1!
Last week, gold hit a bottom and gradually stabilized and rebounded from the 1809 level, turning around from the ADP report on Wednesday. Thursday and Friday saw two strong bullish candles, with the highest reaching $1870. The weekly candlestick formed a long lower shadow hammer, and the weekly candle has repeatedly tested but not broken the 1800 level, confirming the importance of the 1800 level support in the medium term. The bullish trend on the weekly level is now evident, and the direction for the future is gradually becoming clear.
Reasons for the strong rebound:
There are two reasons for the strong rebound of gold on Friday. First, although the non-farm payroll data showed employment figures of 300,000, which is greater than the expected 200,000, it is still negative compared to the previous value of 500,000. Therefore, the non-farm payroll data is actually positive despite appearing to be negative. Second, the uncertainty of the Russian-Ukrainian political situation has been a long-term main factor in keeping gold at high levels, and there may be sudden news that stimulates the gold price. The possible collapse of Silicon Valley Bank is the third reason, which may mean a repeat of the financial crisis, so more funds will flow into the gold market in the coming days, driving up the demand for hedging.
Reasons for bullishness:
The only factor in the market that can suppress gold is the hawkishness of the Federal Reserve. However, in order to stabilize the dominance of the US dollar, which they do not want to see weakened, the Federal Reserve can only continue to raise interest rates to curb inflation. However, under continued high interest rate pressure, the Federal Reserve also finds it difficult to persist in the long term. They have already begun to slow down the pace of interest rate hikes, and a rate cut in the future is inevitable, but the time has not yet come. Therefore, remember that the hawkishness of the Federal Reserve is only a short-term suppression, and there will be a mid-term bullish opportunity for gold and silver.
Gold is likely to continue its bullish trend next week and aim for the 1900 level. If there is no significant data release, the pace of upward stability will continue.
Therefore, you can take advantage of this trend and I will provide real-time trading strategies for everyone to reference. Opportunities are fleeting, so be sure to stay tuned to avoid missing trading opportunities.
GOLD
XAUUSD
GC1!
Trade active
Trade active
Trade active
Trade closed: target reached
Trade closed: target reached
