Gold surged as expected and will continue to rise with the trend
Updated
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We have no problem continuing to be bullish on Thursday. The market was mainly consolidating during the day, until the US market data jumped and then fell back sharply and then rose sharply. In the morning, it broke through the pressure on the upper edge of the platform at 2046, and the pressure here also turned into support. During the day, we will continue to be bullish.
According to my analysis and deduction, the main reason for the rise is: on the hourly chart, a five-wave upward structure first appeared, followed by a three-wave adjustment. After the adjustment pattern is completed, the upward trend returns again. The big cycle is in the secondary adjustment sub-wave of 3 of the 5 waves of the upward trend. 2. It cannot be said that it will definitely be over. If it breaks through 2060 in the later period, it will enter the upward trend of sub-wave 3. Gold pressure 2055~2060, support 2045~2041
In terms of gold operations, it is recommended to buy at 2044, stop loss at 2040 US dollars, and target 2055~2060.
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We have no problem continuing to be bullish on Thursday. The market was mainly consolidating during the day, until the US market data jumped and then fell back sharply and then rose sharply. In the morning, it broke through the pressure on the upper edge of the platform at 2046, and the pressure here also turned into support. During the day, we will continue to be bullish.
According to my analysis and deduction, the main reason for the rise is: on the hourly chart, a five-wave upward structure first appeared, followed by a three-wave adjustment. After the adjustment pattern is completed, the upward trend returns again. The big cycle is in the secondary adjustment sub-wave of 3 of the 5 waves of the upward trend. 2. It cannot be said that it will definitely be over. If it breaks through 2060 in the later period, it will enter the upward trend of sub-wave 3. Gold pressure 2055~2060, support 2045~2041
In terms of gold operations, it is recommended to buy at 2044, stop loss at 2040 US dollars, and target 2055~2060.
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Today I am still bullish on gold, the trend remains unchangedTrade active
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