7.4 Gold shocks
Yesterday, the gold price plummeted, but did not fall below 3310. We have analyzed before that the bulls have the advantage above 3300. From yesterday's performance, we can see that the bulls are still in a dominant position.
Today is the last day of this week. At present, the gold price has not fluctuated much and is fluctuating in the range of 3320-3345. The fact that it can still fluctuate under the negative data shows that the bulls are strong and there is a high probability that it will rise next week.
Next, we will shift our focus to the tariff situation on July 9. If there is no definite intelligence report that it has been negotiated, then gold will still be the first choice for safe haven. If the tariff situation becomes tense, then the gold price may form a unilateral rise. If the situation eases, then the gold price may rise and then fall back.
Today, it is recommended to buy near 3320, with a stop loss at 3300. The target is 3340.
If my analysis can help you, I hope you can cheer me up and give me a thumbs up.
Yesterday, the gold price plummeted, but did not fall below 3310. We have analyzed before that the bulls have the advantage above 3300. From yesterday's performance, we can see that the bulls are still in a dominant position.
Today is the last day of this week. At present, the gold price has not fluctuated much and is fluctuating in the range of 3320-3345. The fact that it can still fluctuate under the negative data shows that the bulls are strong and there is a high probability that it will rise next week.
Next, we will shift our focus to the tariff situation on July 9. If there is no definite intelligence report that it has been negotiated, then gold will still be the first choice for safe haven. If the tariff situation becomes tense, then the gold price may form a unilateral rise. If the situation eases, then the gold price may rise and then fall back.
Today, it is recommended to buy near 3320, with a stop loss at 3300. The target is 3340.
If my analysis can help you, I hope you can cheer me up and give me a thumbs up.
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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.
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.