Gold’s bullish thinking remains unchanged
This week’s focus will be on Thursday’s revised annualized quarterly rate of U.S. real GDP in the first quarter and Friday’s U.S. April core PCE, especially the U.S. April core PCE, the Fed’s most favored inflation indicator, which will be released on Friday. The index better reflects underlying inflation. If the data exceeds expectations, it may fuel expectations that the Federal Reserve will keep interest rates unchanged in September and boost the dollar. On the other hand, if the data is lower than expected, it will push gold prices higher.
In terms of short-term layout, in the big cycle, our bullish rhythm remains unchanged, coupled with our judgment and expectation that the 2325 position will form a callback low. Next, the layout around low and long positions has become inevitable. In the weekly review, we have given clear point ideas for this week's operations. The support to focus on at the opening of this week is the support of 2328/30. Just continue to be bullish around this line, and focus on the breakthrough of 2348.
In terms of short-term layout, in the big cycle, our bullish rhythm remains unchanged, coupled with our judgment and expectation that the 2325 position will form a callback low. Next, the layout around low and long positions has become inevitable. In the weekly review, we have given clear point ideas for this week's operations. The support to focus on at the opening of this week is the support of 2328/30. Just continue to be bullish around this line, and focus on the breakthrough of 2348.
Trade active
If you want to get my trading signals on Monday you can find them on my channel or you can contact me directly, I am a full time trader KevinTrade active
This week, gold is still looking for low positions to go long, and 2320-2330 can be used to go long directly.Trade active
Caution is required when trading. If you start in the right direction, it's only a matter of time before you become profitable. I analyze the market daily to bring you the best signalsTrade active
This week, gold is still looking for low positions to go long, and 2320-2330 can be used to go long directly.
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.