GOLD-Range trading

A survey released by the Federal Reserve on Wednesday showed that U.S. economic activity expanded slightly from late February to early April, and companies said they expected inflationary pressures to remain stable, continuing a recent trend that has prevented the Fed from cutting interest rates. In terms of the geopolitical situation, the United States, the European Union and the Group of Seven (G7) have all announced plans to consider imposing stricter sanctions on Iran. The outside world believes that this is to appease Israel and persuade it to restrain its retaliatory actions against Iran. Today, we will focus on the changes in the number of initial jobless claims in the United States and the annualized total of existing home sales in the United States in March. We will also pay attention to the speeches of Federal Reserve officials and news related to the geopolitical situation.

The current high of gold is at 2431, and the lowest has fallen to around 2324. It is currently oscillating above 2300, and the market has no continuity. I think that only when gold falls below 2300 can we judge whether the upward trend has changed, and when it falls below 2272, we can confirm that it will be in a downward trend.

Now we can sell high and buy low within the range. The large range is 2320-2405 and the small range is 2348-2398. The current daily fluctuation of gold is 30-40 US dollars. The above is the standard for trading.

The upper 2392-2398 is yesterday's resistance range, and the lower 2340-2350 is the support range. Arrange positions reasonably according to funds. Gold changes quickly. You need to change your strategy in real time according to the trend. The above is for your reference.

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2392-2378 has a good profit

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