Continue to go long after bottoming outYesterday, the Trump and Powell incident caused gold to rise strongly to around 3377. The rise in gold was only short-lived. In the end, gold closed positively on the daily line, but it closed with a super long upper shadow line. In the end, the gold price quickly rose and broke through the 3377 mark, but fell back under pressure and closed in a volatile market. The daily K-line closed high and fell back in a volatile market. Although the overall gold price repeatedly fluctuated and washed out under the stimulation of news, it ultimately failed to break through the recent large box oscillation range. Today we continue to pay attention to the support line of 3318-25 below, and we will continue to go long if it falls back!
From the 4-hour analysis, the short-term support below continues to focus on around 3318-25, the short-term suppression above focuses on the 3340-45 line, and the key pressure above focuses on the 3380 line. Relying on this range as a whole, the main tone of high-altitude and low-multiple cycles remains unchanged. In the middle position, watch more and do less, be cautious in chasing orders, and wait patiently for key points to enter the market.
