3500 peaked or is the bull market gaining momentum?
The price of gold plummeted by $187 in a single day, and began a deep adjustment after hitting the 3485-3500 range.
The four-hour chart shows that the price effectively rushed up to complete the ABCD pattern structure, accurately touching the 3490 theoretical suppression area of the Harmony Trading System.
This plunge has completely wiped out all the gains at the beginning of the week, and the market has begun to question whether "3500 has become a historical high."
We seized the technical rebound window in today's late trading and have made considerable floating profits by continuously placing long positions in the 3325-3333 area.
The key observation is whether the Asian session can stand firm in the 3370-3380 range and fill the gap: if the European session maintains a strong recovery trend, the US session is expected to recover all the losses on Tuesday;
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Bullish sentiment remains unchanged?
Gold once started to rise from a low of around 3413, reaching a high near the 3500 mark.
Subsequently, the trend has been in a consolidation and pullback. So far, gold has hit a low of around 3410. It has currently pulled back and is consolidating around 3430.
From the hourly chart:
It can be found that this wave of gold's rise started from the low of 3285 last Friday.
Then it is very simple. Looking at the trend from 3285 to 3500, we can see that 3420-18 is exactly the 618 support position of the Fibonacci division line.
Moreover, today's opening low is also around 3420. If there is no actual drop below 3420, gold will definitely rebound.
Once it continues to be around 3450, it will continue to test 3500 or even new highs.
Therefore, in terms of subsequent operations, I suggest that you can enter the market and go long at 3430-3420, and the target can be 3450-3500.
Gold, next stop: $3,400?
For gold, the most taboo things are questioning and speculation. Using past experience to measure the existing market is itself a rear-view mirror thinking logic. What didn’t happen in the past does not mean it won’t happen in the future, and what you don’t understand does not mean the market does not exist.
Why is gold so strong?
The answer is that the era of "gold is king" has just begun, and the era of cash is a thing of the past. The global economy has entered stagflation, and the game between major powers is fierce. In addition, geopolitical risks continue. More importantly, US President Trump directly pointed out that the Federal Reserve did not obey orders and challenged the independence of the Federal Reserve.
In addition, during the 10-year bull market from 2002 to 2011, gold prices rose from $260 to $1,920, an increase of nearly 6 times. However, this time, gold prices have only increased by more than 3 times from 2016 to now. The speed of market transmission and payment channels in the last gold bull market are completely incomparable to today. This time, the news of the rise in gold prices has spread to every corner of the world.
Therefore, I have always emphasized not to get off the bus easily. It is easy to get off the bus but difficult to get on. The pullback is also for a better rise. Be a friend of time. 2025 will be my best blessing to every investor!
Since the gold price fell last Friday, it has been rising strongly today. The previous high of $3360 will become the new support area. That is, before it is lost, we will continue to be bullish on gold. Even if some people are beaten out because of their aggressive defensive positions, the general bullish direction will not change. You will find that the bulls will never be trapped in a strong market, and all the bears will be completely eliminated!
Today, gold relies on 3360 as the dividing point between long and short positions, and continues to be bullish to 3390-3395, and even today it will challenge the upper side of $3400!
Last sentence: I dare to hold gold long positions for a long time, do you dare to hold short positions for a long time?
Is it far away for gold’s upward trend to continue to 3500?
The gold market was closed on April 18 due to the Good Friday holiday. Spot gold fell slightly after hitting a record high of $3,357.66 per ounce. Despite the short-term correction, gold prices still rose 2% this week, and the strong pattern has not changed.
The US dollar index rebounded slightly by 0.17% on Thursday, closing at 99.43, but it still fell this week. The weak dollar makes gold denominated in other currencies more attractive, further consolidating the support level of gold. If the US dollar continues to be weak, gold may usher in a new round of upward momentum.
Gold long orders: 3310-3330 long target 3360-3380
Key points:
First support level: 3310, second support level 3300, third support level 3290
Technical aspects: Unicorn double bottom strong support is formed, all long orders are profitable, short orders should not be bought, wait for the opportunity to fall back to invest more.
How much more can it rise in the future? The latest rise is comi
The 1-hour moving average of gold continues to be arranged in a bullish divergence. It is difficult for the bulls to have a big correction. After the decline and shock adjustment at the 3320 level yesterday, it continued to break upward. Then the short-term 3320 of gold formed support again. The price rose by more than 100 US dollars on Wednesday. It will not be the largest long investment this week. The form of long investment is still continuing.
At this time, our operation idea is to continue to move low and long to magnify profits. You can buy long orders near 3320. The maximum upper limit of the long position on the day is temporarily seen at 3360? Don't rush to be bearish. The market will naturally find us if we follow the trend?
Now that 3320 has been bought, can you enter the market directly and wait for the big positive line to rise?
Is the price of gold starting to soar wildly?
Analysis of gold news
As traders wait and see whether the Trump administration will reach a new trade agreement with trading partners, the US dollar index fell again and once fell to around $99, and finally closed down 0.89% at 99.26.
Due to the trend of the US dollar and the escalation of trade tensions, spot gold continued its record-breaking rise, setting a new record high above $3,340, soaring more than $100 during the day, and finally closed up 3.49% at $3,342.19 per ounce.
Today's operation strategy
Long order: 3321-3320 long
Stop loss 3310, target 3355-3360
Short order: 3357-3359
Stop loss 3369, target 3330-3325
Key points:
First support level: 3320, second support level: 3315, third support level: 3310
First resistance level: 3360, second resistance level: 3365, third resistance level: 3370