Today's gold price target: 3400+Today's gold price target: 3400+
Trading strategy remains the same. Continue buying low this week, with a target price of 3400+.
Buy range: 3350-3360-3370
Stop-loss range: 3340-3350
Target range: 3380-3400+
Technical Analysis:
As shown in Figure 2h:
When will gold enter the triangle range of 3385-3440?
I've been waiting all week.
For the past week, gold prices have been fluctuating and converging between 3360 and 3385.
Our strategy this week is to buy low.
Currently, we remain undefeated and have made significant profits.
I still believe today could be a major moment for gold prices to break out, stabilizing at 3380 and breaking through 3400, with a target of 3440+.
I still believe the macroeconomic trend is irreversible:
Expectations of a Fed rate cut and geopolitical risks will continue to support gold prices in the short term. Long-term long positions are recommended above $3,350.
Precious metals are inherently volatile. The recommended gold trading strategy is to buy on dips over the long term.
Of course, gold prices could continue to fluctuate between $3,360 and $3,385.
If you do prefer to short, my short-term recommendation is to short near the highs of $3,385-3,390, with a stop-loss at $3,395.
If it falls below $3,365, the target support level is $3,350.
Currently, gold prices should focus on breaking through the resistance level of $3,380-3,381 in the short term.
If the price holds this level, it could potentially reach $3,450.
If the price pulls back, the support levels of $3,345 and $3,274 should be watched.
