China and the United States reached a 90-day ceasefire agreement, and the price of gold returned to 3,200 from 3,400 US dollars. All traders are staring at the support level of 3,200 US dollars, and are very worried about whether it can withstand pressure; it will fall to a larger level, resulting in no trading opportunities for gold positions.
I think your concerns are normal, and market fluctuations are also normal. There is no market that only rises and never falls; even in the bull market, there will be periodic adjustments.
Next, the focus is on the maturity of US Treasury bonds in June. The impact of trade conflicts will soon be forgotten by the market; US CPI inflation continued to decline in April, from 2.4% in the early stage to 2.3%, getting closer and closer to the Fed's ultimate goal of 2%, which means that the Fed will soon have to restart the interest rate cut plan.
Once the US Treasury bonds mature and default or trigger panic, or if Fed Chairman Powell reveals his intention to cut interest rates, gold will rise rapidly and may reach a high point within 1-2 days.
Okay, everyone; you need to understand the basic situation, but the most important thing is the operation strategy during the Asian trading session.
I think you can first test the long strategy around $3225, with a stop loss below 3215 and a profit in the rebound range of $3340-3360.
Man, excessive worrying will not help; if you can't accept short-term volatility trading, you can wait and see and stay calm.
I think your concerns are normal, and market fluctuations are also normal. There is no market that only rises and never falls; even in the bull market, there will be periodic adjustments.
Next, the focus is on the maturity of US Treasury bonds in June. The impact of trade conflicts will soon be forgotten by the market; US CPI inflation continued to decline in April, from 2.4% in the early stage to 2.3%, getting closer and closer to the Fed's ultimate goal of 2%, which means that the Fed will soon have to restart the interest rate cut plan.
Once the US Treasury bonds mature and default or trigger panic, or if Fed Chairman Powell reveals his intention to cut interest rates, gold will rise rapidly and may reach a high point within 1-2 days.
Okay, everyone; you need to understand the basic situation, but the most important thing is the operation strategy during the Asian trading session.
I think you can first test the long strategy around $3225, with a stop loss below 3215 and a profit in the rebound range of $3340-3360.
Man, excessive worrying will not help; if you can't accept short-term volatility trading, you can wait and see and stay calm.
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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.
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.