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Investment success does not depend on how powerful and excellent your tools are, but on whether you can use your trading tools well. On the road to the dream of wealth, the most effective strategy is to focus and stick to a good trading system. Focus and persistence can produce incredible power. When you can really do this, you can create miracles that you can't believe in yourself.
The international gold price opened at $3,350/ounce last Friday and closed at $3,315/ounce. The K-line entity fell by about $35/ounce throughout the day, and the daily K-line closed with a medium-yin line with a long upper shadow. Last Friday, the gold price fluctuated widely and finally closed down. On the one hand, it was because the risk aversion sentiment eased slightly, resulting in profit-taking of long positions; on the other hand, it was due to the oversold rebound of the US dollar, which put pressure on gold bulls.
Fundamentally, gold reached a record high last week, and then fell slightly under the influence of Trump's easing trade remarks and the Federal Reserve. According to FactSet data, gold has still risen by about 41% in the past year, and the return rate so far this decade is 113%. As investors prepare for further geopolitical and macroeconomic shocks, gold continues to be the asset of choice for investors seeking protection. According to the latest data, US gold ETFs experienced inflows exceeding 95% of historical levels in two weeks, followed by a single-day outflow that also exceeded 95% of historical levels. This "big in and big out" pattern has occurred 9 times in history, and the first 8 times almost accurately predicted that gold would usher in a correction, and the worst performance was usually concentrated in the next 2 months.
Technically, the monthly chart of gold showed a strong upward trend, technical indicators continued to rise, and the long-term bullish trend; the weekly chart closed at a high level with a long upper shadow cross, and the technical indicators were blunt at high levels, and the medium-term cautious pursuit of highs; the daily chart was stagnant and pulled back from highs, and the technical indicators began to fall, and the short-term correction was expected to continue; the 4-hour chart fell into a shock pattern, and the technical indicators were neutral, and the short-term waited for a breakthrough in the shock range. Overall, the price of gold remains bullish in the long term, with the midline expected to adjust downwards and a volatile trend in the short term.
In terms of short-term operations during the day, focus on the long opportunities in the 3294 area below and defend on 3279. Focus on the short opportunities in the 3215 area on the top and defend on 3221. Each target will look at the 15-20 US dollars space.
Hello traders, if you have better ideas and suggestions, welcome to leave a message below, I will be very happy
Investment success does not depend on how powerful and excellent your tools are, but on whether you can use your trading tools well. On the road to the dream of wealth, the most effective strategy is to focus and stick to a good trading system. Focus and persistence can produce incredible power. When you can really do this, you can create miracles that you can't believe in yourself.
The international gold price opened at $3,350/ounce last Friday and closed at $3,315/ounce. The K-line entity fell by about $35/ounce throughout the day, and the daily K-line closed with a medium-yin line with a long upper shadow. Last Friday, the gold price fluctuated widely and finally closed down. On the one hand, it was because the risk aversion sentiment eased slightly, resulting in profit-taking of long positions; on the other hand, it was due to the oversold rebound of the US dollar, which put pressure on gold bulls.
Fundamentally, gold reached a record high last week, and then fell slightly under the influence of Trump's easing trade remarks and the Federal Reserve. According to FactSet data, gold has still risen by about 41% in the past year, and the return rate so far this decade is 113%. As investors prepare for further geopolitical and macroeconomic shocks, gold continues to be the asset of choice for investors seeking protection. According to the latest data, US gold ETFs experienced inflows exceeding 95% of historical levels in two weeks, followed by a single-day outflow that also exceeded 95% of historical levels. This "big in and big out" pattern has occurred 9 times in history, and the first 8 times almost accurately predicted that gold would usher in a correction, and the worst performance was usually concentrated in the next 2 months.
Technically, the monthly chart of gold showed a strong upward trend, technical indicators continued to rise, and the long-term bullish trend; the weekly chart closed at a high level with a long upper shadow cross, and the technical indicators were blunt at high levels, and the medium-term cautious pursuit of highs; the daily chart was stagnant and pulled back from highs, and the technical indicators began to fall, and the short-term correction was expected to continue; the 4-hour chart fell into a shock pattern, and the technical indicators were neutral, and the short-term waited for a breakthrough in the shock range. Overall, the price of gold remains bullish in the long term, with the midline expected to adjust downwards and a volatile trend in the short term.
In terms of short-term operations during the day, focus on the long opportunities in the 3294 area below and defend on 3279. Focus on the short opportunities in the 3215 area on the top and defend on 3221. Each target will look at the 15-20 US dollars space.
Hello traders, if you have better ideas and suggestions, welcome to leave a message below, I will be very happy
Trade active
The bullish trend remains unchanged, we only need short-term tradingTrade closed: target reached
Gold fluctuates less, but remains bullish
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Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
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.