The gold adjustment has ended, and the morning current price of 3330 is directly higher!
Gold has repeatedly explored the 3260-3270 area to gain support, and a multiple bottom structure has formed in the short term of gold. Therefore, the short-term adjustment of gold may come to an end, and the current price of gold in the morning session is directly higher at 3330.
Gold has already formed multiple bottom structures in one hour, and the one hour moving average is gradually turning around. If it can turn upwards and form a golden cross, then the gold one hour long position will once again gain momentum. Gold broke through and rose again in the US market yesterday under the stimulation of safe haven, finally breaking through the high point that rose on Monday morning. Therefore, the suppression of the first line near the high point of 3336 that rose on Monday morning did not form effective resistance. When gold fell back in the morning, it took advantage of the situation and went long. Gold quickly hit the bottom at 2223 in the morning and rebounded quickly after the first line support. So, gold continued to buy on dips at 3323 in the morning.
The market is constantly changing, and we never engage in dead long or dead short positions. Since the gold bulls are continuing to accumulate strength and the gold bears cannot break, then the gold bulls may start to go crazy again.
Morning trading strategy:
More than 3330 gold, stop loss 3320. Target 3360-3370;
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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