Just now, the US April ADP employment (10,000 people) was announced to be 6.2, which is a significant drop from the previous value of 15.5 and the forecast value of 11.5. This is a big positive for gold, and the gold price has rebounded from the 3270 support level to the 3300 integer mark.
As for the future trend of gold prices, I said at the beginning of this week that the main view is bullish. The multiple low-level purchases in the first two trading days have also yielded a lot of gains. Today, I still recommend buying gold at a low level.
At present, gold has rebounded to around 3300 due to data rebound. Now it depends on whether it can stand firm on this line.
It is best to be able to stand firm. The gold price will inevitably continue to hit 3330.3350, or even 3370.
The key support below is in the 3270-3260 area, which has failed to fall below it many times. As long as there is no big news impact, it is impossible to fall below here in the short term. Therefore, I give two trading strategies for your reference.
If you are more aggressive, you can chase the rise of gold directly at 3300. If you are more cautious, you can wait for the release of the PCE price index later and consider whether to chase the rise directly or wait for a pullback to 3270 based on the released data.
As for the future trend of gold prices, I said at the beginning of this week that the main view is bullish. The multiple low-level purchases in the first two trading days have also yielded a lot of gains. Today, I still recommend buying gold at a low level.
At present, gold has rebounded to around 3300 due to data rebound. Now it depends on whether it can stand firm on this line.
It is best to be able to stand firm. The gold price will inevitably continue to hit 3330.3350, or even 3370.
The key support below is in the 3270-3260 area, which has failed to fall below it many times. As long as there is no big news impact, it is impossible to fall below here in the short term. Therefore, I give two trading strategies for your reference.
If you are more aggressive, you can chase the rise of gold directly at 3300. If you are more cautious, you can wait for the release of the PCE price index later and consider whether to chase the rise directly or wait for a pullback to 3270 based on the released data.
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
Related publications
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
Related publications
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.