6.23 US joins the war, gold is bearish
"According to a report on June 22, US President Trump said on social media on the 21st that the US military has "successfully struck" three Iranian nuclear facilities."
"According to a report on June 22, Iranian Parliament National Security Committee member Kusari said that the Iranian Parliament has concluded that the Strait of Hormuz should be closed, but the final decision lies with the Iranian Supreme National Security Council."
If the situation in the Middle East continues to escalate, crude oil will continue to rise, and for gold, some investors will switch to crude oil. The price of gold fell and then slowly rebounded, and the decline may depend on the vicinity of 3330.
If the situation in the Middle East eases, oil prices will fluctuate and wait and see, and the risk aversion of gold prices will weaken, and it is likely to fluctuate below the current price.
At present, due to the influence of the international situation, the price of gold will not rise significantly in the short term. Traders can go short and be cautious in going long.
Last week, the price of gold has fallen for many consecutive days, and a cross star appeared for two consecutive days, indicating that there are still many bulls. However, due to the influence of the international situation, the price of gold has not been able to break the downward trend. This week, we are optimistic about the market after Wednesday. Before Wednesday, we can wait and see for bargain hunting opportunities.
SELL: around 3370
SL: 3381
TP: 3350/30
Thank you for your attention. I hope my analysis can help you.
"According to a report on June 22, US President Trump said on social media on the 21st that the US military has "successfully struck" three Iranian nuclear facilities."
"According to a report on June 22, Iranian Parliament National Security Committee member Kusari said that the Iranian Parliament has concluded that the Strait of Hormuz should be closed, but the final decision lies with the Iranian Supreme National Security Council."
If the situation in the Middle East continues to escalate, crude oil will continue to rise, and for gold, some investors will switch to crude oil. The price of gold fell and then slowly rebounded, and the decline may depend on the vicinity of 3330.
If the situation in the Middle East eases, oil prices will fluctuate and wait and see, and the risk aversion of gold prices will weaken, and it is likely to fluctuate below the current price.
At present, due to the influence of the international situation, the price of gold will not rise significantly in the short term. Traders can go short and be cautious in going long.
Last week, the price of gold has fallen for many consecutive days, and a cross star appeared for two consecutive days, indicating that there are still many bulls. However, due to the influence of the international situation, the price of gold has not been able to break the downward trend. This week, we are optimistic about the market after Wednesday. Before Wednesday, we can wait and see for bargain hunting opportunities.
SELL: around 3370
SL: 3381
TP: 3350/30
Thank you for your attention. I hope my analysis can help you.
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.
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.