Gold Spot / U.S. DollarUpdated Gold falls back and continues to go long
The bulls are still strong now. However, the decline has not continued and now it has rebounded to around 2700. From the current trend, the bulls are still strong, MA5-MA10 moving average maintains a golden cross upward, and the upper track of the Bollinger band shows signs of opening. The key now is whether the 2700 mark can be broken through and stabilized. If it stabilizes, it will test the previous huge Yin high point of 2720; otherwise, it will fall again under pressure at the 2700 mark.
The 1-hour moving average of gold continues to form a golden cross and diverge in an upward bullish arrangement. The decline of gold is an opportunity to go long. Gold fell to the lowest point of 2675 today and then bottomed out and rebounded. Gold fell back to 2675 in the afternoon and continued to go long on dips. Gold can continue to go long if it falls back to around 2680.
The 1-hour moving average of gold continues to form a golden cross and diverge in an upward bullish arrangement. The decline of gold is an opportunity to go long. Gold fell to the lowest point of 2675 today and then bottomed out and rebounded. Gold fell back to 2675 in the afternoon and continued to go long on dips. Gold can continue to go long if it falls back to around 2680.
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