From the current trend of gold, although there are technical signals of top divergence, the market has not seen a significant adjustment, indicating that the bullish trend is still strong. The lowest price in the US market on Thursday reached 3025, showing a certain support strength. Mr. Fang’s view is that in a very strong bullish trend, it is reasonable to continue to be bullish, but we need to be alert to the risk of adjustment that may occur at any time.
Key point analysis:
Support level: The 3025-3022 range is the current key support area. If the gold price can hold this level, the bullish trend is expected to continue, and you can go long above this area.
Adjustment risk: If the gold price falls below 3022, it may trigger a larger adjustment, and the target may drop to 3015 or even 2980. Therefore, whether 3022 breaks or not is crucial.
Operation strategy:
Bullish but not chasing high: In a very strong trend, although bullishness is the main idea, it is not advisable to blindly chase high, especially near the daily peak, you can try to short with a light position.
Waiting for adjustment to go long: If the gold price is effectively adjusted, you can look for long opportunities near the support level to avoid blindly entering the market before adjustment.
Summary:
Gold is still in a very strong bullish trend recently. It is reasonable to continue to be bullish, but you need to be alert to potential adjustment risks. In terms of operation, you should avoid mindless longs, especially at high levels, and wait for effective adjustments before entering the market. Specific operations should be based on the on-the-spot strategy and respond flexibly to market changes.
Free Signals ：t.me/+HWbck2OfiTtkMGMx
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.
Free Signals ：t.me/+HWbck2OfiTtkMGMx
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.