Prices exploded. Beware of falling support.Information summary:
Russia and Ukraine held a second round of peace talks on Monday. The two sides only agreed on the exchange of prisoners.
No breakthroughs have been made on the proposed ceasefire agreement that Ukraine, its European allies and Washington have called on Russia to accept.
Umerov said Ukraine proposed more talks before the end of June, but believed that only a direct meeting between Zelensky and Putin could resolve the differences between the two sides on several key issues. Secondly, Trump's tariff issue has escalated global trade tensions, and the intensification of the Russian-Ukrainian conflict has also caused geopolitical risks to rise rapidly.
Market analysis:
Gold has stretched directly from 3290 at the beginning of the week to a high of 3391, a $100 increase.
From the perspective of the daily gold line, it is indeed in a bullish trend, breaking through several important pressure levels. But I think all traders need to be wary of chasing more at high levels.
The daily trend of gold started from 3120. 3120-3365 is the a wave, 3365-3242 is the retracement of the b wave. So the current trend from 3242 is the rise of the c wave. After breaking through 3340 on Monday, gold has reached 3396 near the 618 position.
At present, if gold cannot stand above 3400, it is very likely to maintain the consolidation in the 3396-3340 range.
Especially before the release of non-agricultural data this week, such a large fluctuation range. Be sure to be alert to the possibility of continuing to fall back to the support of 3340-3330.
Operation strategy:
If the price falls back to around 3340-3350, go long, stop loss at 3330, and profit range at 3370-3380.
Of course, if you prefer aggressive trading, you can choose a short strategy at 3370-3380, stop loss at 3390, and profit range at 3340-3330.
