Gold resumes its upward trend: Geopolitical risks + tariff upgrades help gold prices break through
Market drivers:
Gold broke through the shock range this week, mainly catalyzed by two major events:
Trump's tariff policy upgrade - the United States announced tariffs on some goods over the weekend, triggering market risk aversion;
Geopolitical tensions - the situation in the Middle East has heated up again, and safe-haven buying has poured into gold.
Technical breakthrough confirmation:
4-hour cycle: Gold prices successfully broke through the downward trend line suppression and stood firm at the key resistance of 3325, marking the restart of the main upward wave;
Top and bottom conversion support: The previous resistance of 3325 turned into support, and the next key support area moved up to 3340-3350;
Upward target: If it stands firm at 3350, bulls will further challenge the 3370-3400 area.
Trading strategy:
Short-term: If the price falls back to 3340-3350 and stabilizes, long orders can be arranged, with a stop loss below 3325 and a target of 3370-3400;
Mid-term: After breaking through 3400, the upward space will be further opened, and the next target will be 3450-3480.
For short positions, short positions can be tried based on the previous high of 3365 in the 4-hour period, and attention should be paid to the resonance in the current trend structure. If the long position stabilizes at 3370, the stop loss should be strictly enforced.
Conclusion: Gold has entered a strong stage driven by both technical and fundamental factors. After short-term adjustments, it is still mainly low-long, and attention should be paid to the geopolitical situation and the trend of the US dollar.
Trade active
Gold target continues to look at 3400
Gold rose strongly by more than 100 points yesterday, and the technical pattern shows that the bullish trend has been re-established. The daily level maintains an oscillating upward structure. Although the 4-hour cycle fell back after being under pressure from the middle track of the channel, the bottom of the 3320 channel below and the head and shoulders bottom breakthrough position of the hourly line formed a key support resonance. The current price is testing the hourly head and shoulders bottom pattern measurement target area of 3344-3355, and is generally in the technical correction stage of the bullish trend.
Operation strategy recommends taking a batch position building method:
First position layout interval: 3344-3350
Second position filling interval: 3330-3325 (strong support area)
Stop loss is uniformly set below 3320, and the target is above 3400. It is necessary to pay attention to the suppression effect of the middle track of the 4-hour channel. If it breaks through effectively, the upward rhythm will be accelerated.
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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.