Gold continued to rise yesterday, but it plummeted by $70 at the opening of the Asian session today. The reason is that China and the United States will start high-level economic talks. This sudden news made the market optimistic, causing gold to fall.
Judging from the details of the news release, the impact is only temporary, and it depends on the results of the talks after 9-12.
Gold rose too fast in the previous two days, and there was basically no good opportunity to enter the market later. Now gold is correcting, which will be an opportunity, but it must be handled with caution.
Today the Federal Reserve will announce the May interest rate decision, which is the key to the future trend this week. Everyone should pay close attention.
Today I mainly focus on two points. First, it is still the support of the 3350-3360 area, and secondly, 3330. 3330 will be a key position. If it does not fall below here, gold will continue to rise and test the previous high, but it is also likely not to fall here. Therefore, first consider 3350-3360. If it does not fall below, buy it. If it falls below, then look at 3330.
Judging from the details of the news release, the impact is only temporary, and it depends on the results of the talks after 9-12.
Gold rose too fast in the previous two days, and there was basically no good opportunity to enter the market later. Now gold is correcting, which will be an opportunity, but it must be handled with caution.
Today the Federal Reserve will announce the May interest rate decision, which is the key to the future trend this week. Everyone should pay close attention.
Today I mainly focus on two points. First, it is still the support of the 3350-3360 area, and secondly, 3330. 3330 will be a key position. If it does not fall below here, gold will continue to rise and test the previous high, but it is also likely not to fall here. Therefore, first consider 3350-3360. If it does not fall below, buy it. If it falls below, then look at 3330.
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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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.