3.17 Gold fluctuates and accumulates momentum, and the early trading decline continues to be bullish.
Gold has begun to consolidate at a high level again. After the decline on Friday, the gold shorts continue to bottom out and rebound. The gold bulls are still good. Gold is now accumulating momentum at a high level, but there has been no major adjustment in gold, so gold is still dominated by bulls. Gold fell in the early trading and continued to be bullish.
The 1-hour moving average of gold continues to cross and diverge. The bullish momentum of gold is still there. The gold moving average support has now moved up to around 2972, so gold continues to buy on dips above 2972. Gold bottomed out near 2978 last Friday and began to rise, so it fell back to around 2978 in the early trading today, and it can continue to buy on dips. The bullish trend of gold is still very strong, and it is the mainstream to continue to be bullish after the decline.
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Strive for weekly trading profit: $40000, are you interested in joining this goal? Free signals in Telegram:
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t.me/+alDpuIRD9vU4MWQx
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.