Gold hits a new high in early trading, 3150 is coming soon!
The gold market is facing increased uncertainty caused by strong geopolitical changes, making it difficult for market risk aversion to subside. This has led to the popularity of gold as a safe haven asset, causing gold prices to continuously break historical highs in a short period of time. At the same time, central banks around the world continue to purchase gold to reduce their dependence on the US dollar and avoid possible financial sanctions, providing strong support for gold prices. On the other hand, retail investors actively buy gold, and physically supported gold exchange traded funds (ETFs) also attract a large amount of capital inflows, which is one of the main reasons why gold prices have remained high for a long time!
For our intraday gold investment, I think we should continue to be bullish because in the overall direction, gold has completely broken through and stabilized above the 3000 level. The trend in the first quarter shows a trend of exceeding the strong upward trend, and the market continues to attack higher points above. From the one hour market view, gold directly broke through a new high in the morning and continued its upward trend, while the 3127 line has already turned into a support level. If we step back on the 3127 line again in the morning, we can sell more directly!
Specific strategies
Buy long gold 3127, stop loss 3117, target 3150
Disclaimer: The above suggestions are for reference only. Investment carries risks, and operations should be handled with caution
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