Trump is about to take office, buy more near gold 2680
Buy more around 2680 gold, gold will continue to rise. The opening of the 4-hour Bollinger Bands, the upward divergence of the moving average, and the setting of a new high for this stage on Friday are all characteristics of a bullish trend. On Friday, gold bottomed out and rebounded under the influence of non farm activities, seeking the moon from the bottom of the sea and consolidating the support of the 2680 line, so it fell back and bought more at 2680.
Even though the stronger than expected US employment data reinforces expectations that the Federal Reserve may not cut interest rates drastically this year, the market's uncertainty about the policies of the Trump administration and the renewed geopolitical complexity in the Middle East seem to have increased the safe haven appeal of gold. So gold quickly rose and set a new high after encountering support under the influence of short-term negative factors in non farm sectors. This also meets the long-term bullish demand for gold, at least until Trump takes office, gold will continue to rise.
The 4-hour cycle meets the trend of unilateral upward movement and has been running above the trend line and moving average. Going long again on the downtrend line will be a better opportunity. The non farm sector has hit a long bearish candlestick, scaring away all investors who want to short, so when should we buy more in this market?
Trading strategy: Buy long at 2680 gold, stop loss at 2670, target at 2699
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