Gold prices are rising strongly. Technically, multiple supports are formed in various periodic charts. Short-term sideways trading in the hourly chart is a normal adjustment. If the support of 3420 is maintained, the upward trend will continue. If it falls below, we need to be alert to the risk of trend reversal. The current geopolitical risks and risk aversion demand provide medium- and long-term support for gold. The main strategy for the day should be to buy on dips, and focus on the key watershed of 3420. Long orders can be arranged when it falls back to this level. It is expected to accelerate upward after breaking through. Overall, the bullish trend of gold has not changed.
Gold recommendation: long orders can be arranged when the price falls back to 3425-3420. Stop loss 3413. Target 3472. Exit notification if the market changes
Gold recommendation: long orders can be arranged when the price falls back to 3425-3420. Stop loss 3413. Target 3472. Exit notification if the market changes
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FREE SIGNALS TECHNICAL CHART AND EDUCATION
t.me/+fSjRQ0s6m500NzVk
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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.