Gold breaks through strongly and stabilizes, falls back in early trading and goes long!
Gold has now made a strong breakthrough and stabilized above 3300. In the morning, gold fell back and went long. Gold bulls have restarted and accumulated their strength. Gold bulls have begun to show off their muscles. Now, gold bulls clearly dominate the market. If gold falls back in the morning, they can only go long. In the current market, do not easily chase long, as the market volatility is too large. Be patient and wait for the opportunity to fall back and go long.
The 1-hour moving average of gold has started to cross upwards, forming a golden cross. Gold bulls have started to exert their strength. After breaking through the 3300 line yesterday, gold has returned to near 3305 and continued to exert its strength. Therefore, in the short term, 3305 is the key to the turning point of gold's long and short positions. The early decline of gold to 3305 is an opportunity to buy long on dips.
The market is constantly changing. Since the current gold bulls are better, gold will continue to grow. After the adjustment of the gold bulls, the bottom of the bullish line may have just begun, and there is still hope for the gold bulls to reach a higher level.
Morning trading strategy:
Buy long on gold 3310, stop loss 3300. Target 3350-3360;
Disclaimer: The above is purely a personal opinion sharing and does not constitute operational advice. Investment carries risks, and profits and losses are borne by oneself.
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