Gold rebounds, choose to go long during trading!
Since falling below the support level of 3260, gold has almost always been operating below 3260 in the short term. However, the actual decline in this round is not significant. Gold has gained support around 3200 and started to rebound. Last Friday, it was affected by negative non farm data, and gold only continued to decline, indicating strong bottom support for gold. In addition, the current logic of gold's upward trend has not changed, and gold is still in a situation where it is easy to rise but difficult to fall.
In the intraday trading session, we focus on the long short watershed of the 3200 line. Before gold further falls and breaks through the level, it will maintain a bullish trend. However, during the day, we are paying attention to the recent starting point of the 3222 support level. If gold wants to break out of a steady upward trend, it will not fall below the 3222 line again. In the short term, we will refer to the point above 3222 to plan for long positions!
Specific strategies
Buy long at 3230 gold, stop loss at 3220. Target at 3260
Disclaimer: The above suggestions are for reference only. Investment carries risks, and caution should be exercised when operating
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