After gold fell below the trend line to support, it has rebounded to around $1,850. The five consecutive days of rebounding have made many friends who are buying at the lowest level start to make profits. So should we reduce positions at highs or continue to hold them next? like first and then read, and you are only very popular.
Gold fundamentals analysis: The weakness of the dollar and concerns about economic growth have boosted, but gold's gains narrowed after the rise in US Treasury yields. Atlanta Fed Chairman Bostic said Monday that financial markets’ rapid response to tightening monetary policy has brought hope that other sectors of the economy may also make adjustments faster. The focus of this week is still on the minutes of the Federal Reserve's May monetary policy meeting at 2 a.m. Beijing time on Thursday.
Gold Technical Analysis: Judging from the weekly line level, gold last week had touched the trend line support and stepped out of a big positive line, so the market this week also rebounded in theory. From the daily level, the price K-line rebounded upward along the support of the 5-day moving average. The MACD golden cross was upward, and the red ability column slowly increased, and there was still a certain amount of upward space in the short term. The current gold price is a tug-of-war near the 20-day moving average. Even if there is a pullback today and tomorrow, the medium and long term will still be bullish. The international gold mid-line first sees around $1,885 above.
Related targets:
E Fund Gold ETF Connection C
Bose Gold ETF Connection C
Article is time-sensitive. The above content is for reference only and is not used as a basis for trading. Investment is risky, so be cautious in managing your finances.
Warm reminder: has many types of gold, including gold funds, paper gold, gold futures, gold TD, etc. Since the major varieties are different, the trading mechanism is also different, so the operation methods will also be different. Dear friends, you need to use it flexibly according to your trading products.
Domestic gold price = international gold price [divided by] 31.1035 [multiplied by] RMB exchange rate
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