Bullish buy after gold awaits pullback

As expected yesterday, the price of gold broke through the shock range after the initial jobless claims data was released, and has now risen to around 2376, a very large increase. The reason why this increase is so large has a lot to do with a number of important data released recently. We can see that the number of initial claims for unemployment benefits and the number of continuing claims for unemployment benefits in the United States announced yesterday increased, and the number is still up. It has reached a new high since August 2023. There are various signs that the domestic employment situation in the United States has deteriorated, leading to an increasing number of recipients. This is coupled with the poor previous non-agricultural data and the sharp decline in first-quarter GDP data. , these factors have suppressed the U.S. dollar index, causing gold to rise sharply.

From the perspective of the gold market, yesterday's big positive line directly covered the negative line entity, and the K line broke through the moving average and continued to rise. The energy of the bulls was very strong. Today, the gold price went out of the unilateral market and continued to rise, with no sign of falling back. The entire gold price trend changed from bearish to Bullish. And we also need to adjust the direction in time and follow the trend. We are not in a hurry to intervene today. Gold has started to rebound. At present, we can only choose the opportunity to go long. Judging from the market trend, there is not much opportunity for a callback to go long. Everyone can operate flexibly according to the market. Just go long with the trend. Remember to take advantage of the trend.

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Comment:

It has fallen to the buying range. I am selling at the high level and have successfully reached TP.

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