On Tuesday (April 29) in the Asian session, spot gold fluctuated in a narrow range and is currently trading at $3329. Gold prices reversed their decline on Monday and rose. Earlier, they fell to around $3268, but then there was a low-absorption buying, and gold prices closed at $3343.91. At the same time, the dollar fell across the board on Monday, which also provided support for gold prices. Investors are cautiously waiting for further news on US trade policies and are preparing for a week of intensive economic data, which may initially indicate whether US President Trump's trade war is having an impact.
From a technical perspective, gold prices reversed their decline on Monday and rose. Gold repeatedly tested the 3260-3270 area for support. Gold has formed a multiple bottom structure in the short term, so gold may end its short-term adjustment. This time, gold has already adjusted, and it is unlikely to adjust again. Therefore, as long as it does not fall below the 3260 low in the near future, gold will rise and there will be room for growth. As for the high point, there are two dividing points, one is the 3337 high point. If it breaks through 3337, it will be a strong shock. The other is the 3370 high point. If it breaks through 3370, it will be absolutely strong. Then, the space above will open up, and we will look to return to the historical high of 3420-3500.
From a technical perspective, gold prices reversed their decline on Monday and rose. Gold repeatedly tested the 3260-3270 area for support. Gold has formed a multiple bottom structure in the short term, so gold may end its short-term adjustment. This time, gold has already adjusted, and it is unlikely to adjust again. Therefore, as long as it does not fall below the 3260 low in the near future, gold will rise and there will be room for growth. As for the high point, there are two dividing points, one is the 3337 high point. If it breaks through 3337, it will be a strong shock. The other is the 3370 high point. If it breaks through 3370, it will be absolutely strong. Then, the space above will open up, and we will look to return to the historical high of 3420-3500.
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✅ Free daily trading signal 🔥
✅ 90%-95% high precision 🔥
✅ Weekly yield 200%-400% 🔥
t.me/+oNzmt2CY2KdjOGY8
✅ 90%-95% high precision 🔥
✅ Weekly yield 200%-400% 🔥
t.me/+oNzmt2CY2KdjOGY8
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.