It all happened after the US killed top Iranian general Qassem Soleimani in an attack that sparked fears about a new war.
Gold rose at a time of political instability in the Middle East between Iran tensions with the United Kingdom, the influx of the US-China trade war, the split of the United Kingdom and the EU and especially, before the Lunar New Year. Gold from China, India and some Asian countries have helped boost safe purchasing. makes gold benefit.
And just then, the Iranian Islamic Revolutionary Army launched more than 10 ballistic missiles at Ain al-Asad air base with US troops stationed in Iraq this morning.
Iranian state television Press TV said Iran's Islamic Revolutionary Guards (IRGC) "attacked the US Ain al-Asad base in Anbar province, western Iraq with dozens of missiles", and the scene report on "more aggressive reactions if a new aggression appears". This continues to escalate gold prices, and Gold will politically continue to increase rapidly as the amplitude fluctuates 1573- 1611 38 prices in the Asian session this morning and reached the highest level since 2013 back here.
In terms of
Gold prices opened last week with GAP up to 1587 and filled GAP not long after that.Also, it was previously stated that Gold has filled GAP and increased again. Deeper than D1 we can see the cup handle pattern ( Cup handle Up) is more and more indicative of the bulls' uptrend, with the closing of the candle above the 1587 level further consolidating the uptrend of the upcoming gold bull. We can now see the M30 H1 is declining. the trendline opened wide, as some sellers jumped in + profit taking from the previous buyers. We expect this correction as a chance to continue buying.
Consider the buy signal GOLD 1588-1591 SL 1583 TP 1612 TP2 1635
(Note the price needs to break the level of 1615 higher highs highest in 7 years, and close h4 D1 or higher candles to achieve the target)