On Monday, the precious metals market suddenly experienced a sharp rise. The price of spot gold climbed rapidly from a level of just above 2,000, reaching a peak of 2018.12. Currently, the price of gold has fallen back to around 2010, but it still rose by more than $10 during the day.
Gold opened strongly on Monday, with prices continuing to rise into 2018 before hitting resistance. The bulls still managed to break out to new highs. The market is currently looking for support to pull back. Judging from the daily chart, gold is still in a bullish trend, and its recent shock range is around 2007. An immediate breakout after today's open suggests gold is poised for another leg up. From a four-hour perspective, gold's Bollinger Bands are opening upward, and gold prices are running between the middle and upper rails. The market is currently in a high-level shock consolidation stage, with rising lows. The Bollinger Bands are opening upward, and MA5 and MA10 form a golden cross, which implies that gold's current upward momentum is very strong. Therefore, gold remains in a strong bullish trend. Operating with the trend will be more likely to succeed, while operating against the trend will easily lead to confusion. So we have to be long gold
Comprehensive analysis: Gold prices rose sharply in Asia today, and bulls opened up new quotation space. In subsequent operations, you can consider setting SL near 2000 to buy gold.
Gold opened strongly on Monday, with prices continuing to rise into 2018 before hitting resistance. The bulls still managed to break out to new highs. The market is currently looking for support to pull back. Judging from the daily chart, gold is still in a bullish trend, and its recent shock range is around 2007. An immediate breakout after today's open suggests gold is poised for another leg up. From a four-hour perspective, gold's Bollinger Bands are opening upward, and gold prices are running between the middle and upper rails. The market is currently in a high-level shock consolidation stage, with rising lows. The Bollinger Bands are opening upward, and MA5 and MA10 form a golden cross, which implies that gold's current upward momentum is very strong. Therefore, gold remains in a strong bullish trend. Operating with the trend will be more likely to succeed, while operating against the trend will easily lead to confusion. So we have to be long gold
Comprehensive analysis: Gold prices rose sharply in Asia today, and bulls opened up new quotation space. In subsequent operations, you can consider setting SL near 2000 to buy gold.
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If you have already made a profit by buying gold, you can now TP or reduce your position.
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The U.S. dollar continued its decline under the pressure of weak U.S. economic data. Spot gold prices continued to rise, closing near 2015 yesterday and hitting a six-month high of 2018.
It is recommended to rely on yesterday's intensive trading area 2007~2009 as SL. Buy the dip
It is recommended to rely on yesterday's intensive trading area 2007~2009 as SL. Buy the dip
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