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💡Message Strategy
Gold prices hit a three-week high near $3,375 an ounce in early trading on Monday before retreating. Gold prices are under selling pressure again as buyers failed to sustain higher levels hit earlier on Monday.
Gold prices hit a three-week high in early Asian trading on Monday, supported by safe-haven demand after U.S. President Trump threatened to impose 30% tariffs on imports from the European Union and Mexico.
Gold prices encountered resistance just below the 23.6% Fibonacci retracement of April’s record rally at $3,377 an ounce in early Asian trading on Monday.
Despite the pullback, the 14-day relative strength index (RSI) continues to show additional upside as the indicator is well above its midline, currently near 54.20.
📊Technical aspects
Gold 4H chart. From the perspective of the morphological structure, gold has recently been rising in lows, and has been oscillating upward along the rising trend line, moving out of the standard rising trend wave rhythm. On Friday night, the bulls once again made a strong effort to break through the key pressure level of 3345.0, further opening up the bullish upside space, and the market outlook continues to see the bullish continuation of the market.
According to the comprehensive MACD indicator, the fast and slow lines are running above the 0 axis, indicating that the bullish power dominates the market trend. In terms of strategy, it is recommended to follow the bullish rebound wave trend to find support levels and ambush long orders.
💰Strategy Package
Long Position:3335-3340，SL：3320，Target: 3390-3400
💡Message Strategy
Gold prices hit a three-week high near $3,375 an ounce in early trading on Monday before retreating. Gold prices are under selling pressure again as buyers failed to sustain higher levels hit earlier on Monday.
Gold prices hit a three-week high in early Asian trading on Monday, supported by safe-haven demand after U.S. President Trump threatened to impose 30% tariffs on imports from the European Union and Mexico.
Gold prices encountered resistance just below the 23.6% Fibonacci retracement of April’s record rally at $3,377 an ounce in early Asian trading on Monday.
Despite the pullback, the 14-day relative strength index (RSI) continues to show additional upside as the indicator is well above its midline, currently near 54.20.
📊Technical aspects
Gold 4H chart. From the perspective of the morphological structure, gold has recently been rising in lows, and has been oscillating upward along the rising trend line, moving out of the standard rising trend wave rhythm. On Friday night, the bulls once again made a strong effort to break through the key pressure level of 3345.0, further opening up the bullish upside space, and the market outlook continues to see the bullish continuation of the market.
According to the comprehensive MACD indicator, the fast and slow lines are running above the 0 axis, indicating that the bullish power dominates the market trend. In terms of strategy, it is recommended to follow the bullish rebound wave trend to find support levels and ambush long orders.
💰Strategy Package
Long Position:3335-3340，SL：3320，Target: 3390-3400
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Trump expands trade war! Gold price hits three-week high, closing above this level may trigger a big rally
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.