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#XAUUSD XAUUSD

As gold continued to rise during the day, it once touched around 4040, and the price of gold once again entered a new upward channel. There are two parts of support below. The first is the small support near 4015, and the second is near 3990, which is the top and bottom conversion point of yesterday. Buying on dips back to support is the primary strategy, but caution should also be exercised against a potential pullback. Because first of all, according to the information revealed by U.S. Senator John Thune, the Senate will vote again on two short-term appropriations bills on the 8th and discuss the progress of the government shutdown. Once the agreement is effectively reached and the US government is able to reopen, the previous risk aversion sentiment will be effectively alleviated and gold may fall back. Secondly, as a major gold holder, China’s holiday is about to end. Once the Chinese market returns, it will definitely have a significant impact on gold. Therefore, you should be more cautious in your operations from today to tomorrow. The upper channel pressure is at 4050-4060. If it touches the channel pressure, you can try to short gold with a light position.

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Brothers, I reminded you this morning that gold has risen directly to near the 4050-4060 channel suppression level. You can consider shorting gold. Even if you are not a VIP member, I think you can still make good profits. Judging from the hourly chart, gold has tested 4030 many times. Once it breaks, it will go to around 4020. At the same time, as time goes by, the short-term lows will rise further. The US market will focus on the support of 4020-4010 below. If the price falls back to this range, you can try to go long on gold with a light position, but be sure to be wary of the impact of the news mentioned this morning.

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