Gold Trading Strategy, June 2-3

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✅Driven by risk aversion sentiment today, gold continued its strong upward trend, with short-term bullish momentum clearly dominating. However, the current price has risen sharply, and the risk of chasing high is relatively high. Even if you go long with the trend, you should wait for the opportunity to intervene at a low level after the correction. At the same time, you need to be vigilant about technical adjustments after a strong rise.

✅From the market point of view, after breaking through the trend line suppression, the 3340 position of gold has turned from resistance to support, which has a strong reference value. The two key resistance levels of 3379 and 3398 need to be paid attention to on the upside. If it can break through 3380, it means that the upward space is further opened up, and there may be an accelerated upward trend.

✅In terms of short-term operations, it is recommended to try light short positions during the European session, pay attention to the situation of falling back to the first-line support of 3339, and if it stabilizes, you can go long and continue to be bullish. If gold breaks through the 3380 resistance with a strong force, you can wait for the retracement and follow up with long orders.

🔴Resistance level : 3380-3398
🟢Support level : 3330-3340

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