As last week came to a close, further geopolitical tensions in the Middle East pushed market risk aversion to its highest level in nearly two months. This round of rising prices was driven by multiple factors. Among them, the weak inflation data released by the United States last week further strengthened the market's expectations for the Fed's loose monetary policy, thereby increasing the attractiveness of gold assets. In the short term, gold prices are expected to continue to be supported by risk aversion on Monday. In addition, the market this week needs to focus on the impact of the Fed's interest rate decision and Chairman Powell's speech on gold prices. Everyone should pay close attention to the price fluctuations that may be caused by the Fed's policy trends. It is particularly important to note that US President Trump plans to attend the G7 summit in Canada from June 15 to 17. His policy statements during the summit may also have an important impact on the gold market. Investors are advised to keep an eye on it.
Technically, the daily level reminds us to focus on the key resistance range of 3455-3460: if this area fails to break through effectively, the price may face a technical correction; if it breaks through, it may open up further upward space. The 4-hour period chart analysis shows that the gold price maintains a unilateral upward trend, the Bollinger Band channel continues to expand, and the moving average system maintains a complete long arrangement. Two major support levels need to be monitored this week: 3420 constitutes a short-term long-short watershed, and if this position is maintained, the price will maintain its strong characteristics; 3410-3405 is a key trend support level. If it is not effectively broken, the long structure will continue.
Operation strategy:
Gold recommends buying long positions near 3420-3415, stop loss at 3407, and target 3440-3460
Technically, the daily level reminds us to focus on the key resistance range of 3455-3460: if this area fails to break through effectively, the price may face a technical correction; if it breaks through, it may open up further upward space. The 4-hour period chart analysis shows that the gold price maintains a unilateral upward trend, the Bollinger Band channel continues to expand, and the moving average system maintains a complete long arrangement. Two major support levels need to be monitored this week: 3420 constitutes a short-term long-short watershed, and if this position is maintained, the price will maintain its strong characteristics; 3410-3405 is a key trend support level. If it is not effectively broken, the long structure will continue.
Operation strategy:
Gold recommends buying long positions near 3420-3415, stop loss at 3407, and target 3440-3460
t.me/+NagMsqtnzJQzZmQ0
Weekly profit 100%+.
Accurate trading strategy.
Stable profit every week.
Weekly profit 100%+.
Accurate trading strategy.
Stable profit every week.
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.
t.me/+NagMsqtnzJQzZmQ0
Weekly profit 100%+.
Accurate trading strategy.
Stable profit every week.
Weekly profit 100%+.
Accurate trading strategy.
Stable profit every week.
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.