Gold supports 2900, buy more
Overnight gold once again emerged from the roller coaster, with the candlestick falling to the 2900 line at one point. This was also a reverse move, definitely not a downward movement. Subsequently, the market also confirmed a clear upward trend, with the bullish candlestick directly rising to around 2920. This is obviously a reverse move, and we naturally support buying more by falling back. The strategy is very clear
The daily gold chart is dominated by bullish candlesticks, with the bottom two candlesticks directly holding onto the bullish bottom line. Although the bearish candlestick continues to dip, the bullish candlestick can still rise strongly. Currently, the bullish candlestick has engulfed the bearish candlestick entity, indicating a bullish trend engulfing the upward trend. Of course, the upward momentum of the 50 moving average has not changed, and the support level of 2900 is certain, which is also our entry position
Investment strategy: Buy long at 2900 gold, stop loss at 2890. Target at 2956
Disclaimer: Investment carries risks, caution is required when entering the market
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