Safe-haven buying may push gold prices to new heights
During the Asian session on Monday (March 20), gold bottomed out and rebounded. It had previously fallen to around US 1,968.18 per ounce due to technical adjustment needs, and over the weekend the Federal Reserve and the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss Central Bank jointly took coordinated actions to enhance market liquidity. UBS agreed to acquire Credit Suisse, which once cooled risk aversion, but this optimism quickly subsided, and buying on dips helped gold prices reverse their decline, and they are currently trading near US 2,000/ounce.
It is expected that gold prices will continue to be supported by safe-haven buying, and the market is also paying attention to the Fed's interest rate decision to be released this week. The market expects to raise interest rates by only 25 basis points. The wording is difficult to be hawkish. It may pave the way for the next meeting to suspend interest rate increases. The market expects the Fed to cut interest rates before July, which is also expected to provide opportunities for gold prices to rise further.
Judging from the trend of gold, it is currently in a unilateral upward momentum. At present, the gold price has exceeded US 2,000/ounce, and the strong bulls have sufficient strength. In the absence of a greater weakening of the bulls, the short-term structure still maintains long expectations.If you change the bullish expectations of the bulls, it will require a greater reverse operation or obvious market news impact. Therefore, the short-term structure will still maintain the long-term expectations. Before there is a clear short signal, it is not easy to change the direction of the trend structure.
In addition, the intraday chart shows that the weekly trend point is above the 5-day moving average of the daily cycle 1960. As long as it does not fall below the support of this point, don't think that gold can have room for a sharp decline.For the intraday market, gold did not continue the rise at the end of Friday at the opening of the market, but fell back and adjusted. The current lowest is near 1968. Since the decline is not strong, then in the short term, the 1968 line supports bullish, and can be adjusted upward appropriately.
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
It is expected that gold prices will continue to be supported by safe-haven buying, and the market is also paying attention to the Fed's interest rate decision to be released this week. The market expects to raise interest rates by only 25 basis points. The wording is difficult to be hawkish. It may pave the way for the next meeting to suspend interest rate increases. The market expects the Fed to cut interest rates before July, which is also expected to provide opportunities for gold prices to rise further.
In addition, the intraday chart shows that the weekly trend point is above the 5-day moving average of the daily cycle 1960. As long as it does not fall below the support of this point, don't think that gold can have room for a sharp decline.For the intraday market, gold did not continue the rise at the end of Friday at the opening of the market, but fell back and adjusted. The current lowest is near 1968. Since the decline is not strong, then in the short term, the 1968 line supports bullish, and can be adjusted upward appropriately.
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
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Gold can choose to go long around 1974
Comment:
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Gold traded near the 1984 line, and the long orders near 1974 have already made profits
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Gold currently gives a chance to enter the market again near the 1974 line
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Gold's two multi-orders near 1974 were both given the opportunity to leave the market near 1990, and the profit was locked twice.
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Everyone must pay attention to the information in my free channel in time to avoid everyone missing the take profit level. I will give reminders in the free channel in a timely manner based on the real-time market conditions.
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Now patiently wait for gold to see if gold can stabilize above the 1968 position, if it stabilizes, it will be the third chance to go long
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Gold is long again near 1970
Comment:
The low point of gold is shifting upward at a small level. There is a certain support in the 1968 line, and more orders can be entered near 1970
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Gold has rebounded to above 1977, and the profit of long orders near 1970 is about 7 US dollars. Everyone waits patiently for the profit to expand
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Gold rebounds again after retreating, still profitable for now
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Gold is currently rebounding again, and it is now trading near the 1976 line. At present, we still have a profit of about 6 US dollars
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Hold the long orders near 1970 and leave the market with a profit near 1980
Comment:
At present, the long orders around gold 1970 have reached above our stop profit target 1980, and stable friends can leave the market at a profit
Comment:
In the three gold transactions in the day, two long orders entered the market around 1974 and one long order entered the market around 1970. They reached above 1984 and above 1980 respectively and left the market with a profit of about 30 US dollars. Today is a big harvest
