The short-term upward trend of gold has formed, so go long in the morning when it falls back!
Gold rebounded continuously yesterday due to the rise in safe haven sentiment over the weekend, with a relatively large rebound amplitude. Currently, the gold price is still maintaining the continuation of the previous upward trend, indicating that the short-term market direction of the gold price is still bullish. Since it has already fallen in the morning, it is only a pullback. Short term retracement should be bullish!
After a sharp drop of $10 at the beginning of the morning session, it was clear that the support level below was still strong. During the session, it can be seen that the support level this time was at the low point of the previous wave at the 2878 line, and the further support level was at the moving average at the 2873 line. The moving average has formed a golden cross, which will further support the rise of gold prices in the future! In the morning session, focus on the 2878 front line and go long!
Specific strategies
Gold 2878 buy long, stop loss 2870, target 2895
Disclaimer: The above suggestions are for reference only. Investment carries risks, and operations should be handled with caution
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