Gold Market Analysis:
We’ve been buying gold and making consistent profits. We’ve bought at 3368, 3370, 3371, 3374, 3385, and 3397, capturing every profit from this rally. Thinking is crucial in trading; with the right thinking, you’ll be able to trade with ease. Maintaining a calm mindset is crucial. We haven’t had any losses this week, and today, Friday, our goal is to avoid any losses. Today’s gold market strategy remains bullish. Buying has already reached 3400 and broken through 3408. Breaking through these two levels is highly significant and historically alters previous patterns. Gold has experienced six dips above 3400. If it holds this time, it’s a safe bet that a bullish trend is opening up. While we shouldn’t speculate on the top, we shouldn’t discount the possibility of a seventh dip above 3400. When trading, if you see a dip or impending decline, don’t intercept it; follow the trend. The short-term uptrend channel remains intact, and the 4-hour chart is also showing steady progress. The upward trend will continue today. Currently, there are no signs of a peak or weakness. Today’s strategy is to continue buying based on the minor support at 3398. Barring any unexpected events, both the daily and weekly charts close positively, and buying will continue to rise next week.
Support is 3398, with strong support at 3384 and 3371. Resistance is at 3423, and the market’s strength-weakness dividing line is 3398.
Fundamental Analysis:
There are no major data releases or fundamental indicators this week; the data is largely standard.
Trading Recommendations:
Gold – Buy around 3400, target 3420-3450
