Stay bullish on gold, buy long around 2690 in the morning session!
The direct decline in gold prices in early trading does not mean that the bullish trend in gold has ended, as the retracement of gold prices has not yet fallen below the 50% retracement value of the 2690 line. Gold is still in a bullish position, and the early decline in gold prices provides us with better opportunities for operation! Buy more around 2690 in the morning session! The first stage goal of going long is still to maintain a focus on the 2726 front line!
At present, the daily trend closed at the bearish line last week. In the short term, it is due to the technical adjustment caused by the resistance of the 2726 line. However, for the key point of gold, even if it wants to break out of the downward wave, it will still rise again for testing. This is good for our short-term layout! In addition, today is the date when Trump takes office, and the gold market is bound to experience an uncontrollable increase in safe haven sentiment! There are still many factors in the market, so focus on the key point 2690 in the morning to layout and buy more!
Specific strategies
Buy long at 2690 gold, stop loss at 2680. Target at 2705
Disclaimer: The above suggestions are for reference only. Investment carries risks, and caution should be exercised when operating
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