Market news:
On Thursday, spot gold rose in a short-term wave, and the price of gold just hit $3,055/ounce, setting a record high. Foreign media reported that two UN staff members in Gaza were killed in an Israeli attack, and geopolitical tensions pushed safe-haven buying to continue to flow into international gold. As the ceasefire negotiations between Russia and Ukraine stalled, Israel stepped up air strikes, and geopolitical tensions intensified, boosting safe-haven demand. Overnight, London gold prices continued to rise after a speech by Federal Reserve Chairman Powell. Spot gold once broke through the $3,050/ounce mark. The Federal Reserve announced at its latest policy meeting that it would keep interest rates unchanged and hinted that it might cut interest rates twice this year, while slowing down the pace of shrinking its balance sheet. This series of measures triggered the dollar to give up gains and U.S. Treasury yields to fall, providing momentum for the rise in international gold prices. The price of gold investment has repeatedly hit new highs, reflecting market concerns about economic uncertainty and inflationary pressures. The Federal Reserve kept interest rates unchanged and hinted at a rate cut, further strengthening gold's safe-haven appeal. On this trading day, we need to pay attention to the Bank of England's interest rate decision, changes in the number of initial jobless claims in the United States, the US February existing home sales data and news related to the geopolitical situation.
Today's analysis:
Gold is calculated based on Gann's time cycle profit: short-term cycles are 1 hour, 2 hours, 4 hours, 18 hours, 24 hours, 3 weeks, 7 weeks, 13 weeks, 15 weeks, 3 months, and 7 months. The medium-term cycle is 1 year, 2 years, 3 years, 5 years, 7 years, 10 years, 13 years, and 15 years. So how much room is there for this round of buying? I predict that in the long run, the bullish trend of gold will not change, but a round of buying will be followed by a mid-term price adjustment. This month is the last month of the quarter of 25 years, and it is expected that gold will undergo a strong and weak cycle conversion in the second quarter of April-May. At that time, it is necessary to pay attention to the direction of gold in the market and switch to selling to gain an advantage. Before the top pattern such as the common head and shoulders top, M top, double top, arc top and other signal patterns appear, the transaction is still to maintain the advantage of buying, and still mainly participate in low-price buying.
Operation ideas:
Buy short-term gold at 3043-3045, stop loss at 3032, target at 3070-3080;
Sell short-term gold at 3073-3075, stop loss at 3084, target at 3040-3030;
Key points:
First support level: 3044, second support level: 3038, third support level: 3023
First resistance level: 3057, second resistance level: 3068, third resistance level: 3078
On Thursday, spot gold rose in a short-term wave, and the price of gold just hit $3,055/ounce, setting a record high. Foreign media reported that two UN staff members in Gaza were killed in an Israeli attack, and geopolitical tensions pushed safe-haven buying to continue to flow into international gold. As the ceasefire negotiations between Russia and Ukraine stalled, Israel stepped up air strikes, and geopolitical tensions intensified, boosting safe-haven demand. Overnight, London gold prices continued to rise after a speech by Federal Reserve Chairman Powell. Spot gold once broke through the $3,050/ounce mark. The Federal Reserve announced at its latest policy meeting that it would keep interest rates unchanged and hinted that it might cut interest rates twice this year, while slowing down the pace of shrinking its balance sheet. This series of measures triggered the dollar to give up gains and U.S. Treasury yields to fall, providing momentum for the rise in international gold prices. The price of gold investment has repeatedly hit new highs, reflecting market concerns about economic uncertainty and inflationary pressures. The Federal Reserve kept interest rates unchanged and hinted at a rate cut, further strengthening gold's safe-haven appeal. On this trading day, we need to pay attention to the Bank of England's interest rate decision, changes in the number of initial jobless claims in the United States, the US February existing home sales data and news related to the geopolitical situation.
Today's analysis:
Gold is calculated based on Gann's time cycle profit: short-term cycles are 1 hour, 2 hours, 4 hours, 18 hours, 24 hours, 3 weeks, 7 weeks, 13 weeks, 15 weeks, 3 months, and 7 months. The medium-term cycle is 1 year, 2 years, 3 years, 5 years, 7 years, 10 years, 13 years, and 15 years. So how much room is there for this round of buying? I predict that in the long run, the bullish trend of gold will not change, but a round of buying will be followed by a mid-term price adjustment. This month is the last month of the quarter of 25 years, and it is expected that gold will undergo a strong and weak cycle conversion in the second quarter of April-May. At that time, it is necessary to pay attention to the direction of gold in the market and switch to selling to gain an advantage. Before the top pattern such as the common head and shoulders top, M top, double top, arc top and other signal patterns appear, the transaction is still to maintain the advantage of buying, and still mainly participate in low-price buying.
Operation ideas:
Buy short-term gold at 3043-3045, stop loss at 3032, target at 3070-3080;
Sell short-term gold at 3073-3075, stop loss at 3084, target at 3040-3030;
Key points:
First support level: 3044, second support level: 3038, third support level: 3023
First resistance level: 3057, second resistance level: 3068, third resistance level: 3078
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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.
We share free trading signals of various products (XAUUSD, foreign exchange, oil, BTC) every day, with high accuracy and lucrative profits.
t.me/+aLnifhBYkww1ODlh
t.me/+aLnifhBYkww1ODlh
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.