Where will the end of gold's rise be?

Affected by the extreme market sentiment, gold remained in a high state of volatility during the day, and there was basically not much room for recovery. This also shows that the current market long sentiment and confidence are still very strong.Technically, the pressure of the trend line near 2028-30 has also played a certain suppressing role, but the actual effect is not strong. Under the extreme market sentiment, the room for short-term repair is still not very large.After the release of ADP small non-farm payrolls data, the dollar fell again, which also caused gold to rise again.

Judging from the 1-4-hour level of gold, gold directly broke the original shock range and was strong in the short term, resulting in a very abrupt state of the market. In the previous trend, it is not difficult to find that every time the gold price rises, it will be accompanied by a correction.It's just that the length and magnitude of the correction are not the same. In this way, there will be a correction of the high-level correction during the day, and there should be a correction in the short-term.The hourly line shows that the short-term gold price has risen sharply to get rid of the support level of short-term technical indicators, and the long-term strength is strong, maintaining short-term guidance and reference. The sharp increase during the day exacerbates the overbought price pattern on the hourly line, and there may be strong demand for correction during the day.The decline in gold prices first focuses on the vicinity of the previous high point of 2010. If the gold price stands firmly above 2010, gold in the future will rely on this support and rise again.

Short-term trading reference:

First sell gold in small batches near the 2023-2024 position, with a stop loss level of 2030 and a take profit level of 2010

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Trade active:

At present, the price of gold has fallen back to the 2020 line, and our trading orders to sell gold around 2023-2024 have begun to make good profits

Trade active:

Have you kept up with the rhythm of the operation and sold gold in the first line of 2023-2024?

Comment:

What do you all think about the future trend of gold? Will there be a retracement repair in the short term?

Trade active:

At present, gold has fallen back to around 2014, and our trading orders to sell gold around 2023-2024 have made substantial profits

Trade closed: target reached:

At present, the lowest point of gold has fallen below 2010, and our transaction order to sell gold in the first line of 2023-2024 has successfully reached the profit target position. The space for profit is 13-14 dollars