Monthly closing line, gold is alert to pull higher and fall back
At the end of March, the monthly and quarterly lines of gold and silver closed with saturated strong positive lines. The first trading day of the month has broken the high by inertia, which is consistent with expectations. Next, the focus should be on guarding against the potential scenario of pulling up shipments in the first half of the month, and the possibility of extreme volatility.
There are a lot of heavy news data from the 2nd to the 4th. I think there is a high probability that there will be an obvious turning point. However, given that the global political and economic situation has not cooled down significantly, even if there is a turning point and a correction, or even a sharp correction, it is still difficult to make a real judgment of a reversal of the big cycle trend. Therefore, I think the general idea of the short and medium-term line should be to maintain short first and then long.
The small resistance is around 3145--3155, and the important support during the week is around 3050. Given the recent volatility, it is obviously necessary to continue to be prepared to deal with continued large fluctuations.
The above strategy is based on current market analysis, and specific operations need to be combined with real-time data!
There are a lot of heavy news data from the 2nd to the 4th. I think there is a high probability that there will be an obvious turning point. However, given that the global political and economic situation has not cooled down significantly, even if there is a turning point and a correction, or even a sharp correction, it is still difficult to make a real judgment of a reversal of the big cycle trend. Therefore, I think the general idea of the short and medium-term line should be to maintain short first and then long.
The small resistance is around 3145--3155, and the important support during the week is around 3050. Given the recent volatility, it is obviously necessary to continue to be prepared to deal with continued large fluctuations.
The above strategy is based on current market analysis, and specific operations need to be combined with real-time data!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.