Gold bulls are rising steadily, but the early decline continues to be significant!
Amidst the continuous escalation of risk aversion, gold has been steadily rising, and the bullish trend in gold is unstoppable. Gold continues to break new highs, and now it is in a strong bullish trend, with further declines in early trading.
The 1-hour moving average of gold continues to diverge upwards with a bullish cross, indicating strong bullish momentum. There is still momentum for gold to rise, and a pullback is an opportunity to continue long positions. The first high point of 3175 in the US market last night has now formed support. Therefore, in the morning, gold will retrace its steps on 3175 and continue to buy on dips. Gold will quickly rise in the morning, so it is not advisable to easily chase after long positions for now. Gold is currently volatile, and every time it falls back and adjusts, it is easy to reach 20-30 US dollars. It is better to patiently wait for the opportunity to fall back. Of course, if gold adopts a time for space adjustment, that is to say, if gold continues to consolidate at a high level and the European market continues to maintain its strength, then gold in the European market can continue to rise.
Gold bulls are currently strong, so they can only fall back and continue to go long. Gold bulls are constantly supported by safe haven measures, so there is no significant change in the short-term news of gold. Therefore, it is necessary to continue to go long until the end.
Morning trading strategy:
Gold 3175 buy long, stop loss 3165. Target 3220-3230;
Disclaimer: The above is purely a personal opinion sharing and does not constitute operational advice. Investment carries risks, and profits and losses are borne by oneself.
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