After the gold market opened this week, the gold strategy I gave was to go long all the way up. In this clearly bullish market, as long as you follow my long strategy, it will be difficult not to make money.
I am not surprised by the rapid rise in gold this week! The recently updated views are constantly reminding us that the price of gold will continue to rise. The specific factors supporting the rise in gold have also been mentioned many times in the article. This is also a major reason why I insist on being bullish on gold. The current trajectory of gold is basically consistent with my expectations. Taking into account any current situation, whether it is technical or news, it is in a favorable state for gold bulls. There is no doubt that there are long-term bulls, but in the short term, we need to be vigilant against the emergence of a wash-out market!
Currently, the gold price has been fluctuating around 4200 points, briefly forming a small range. It’s clear that gold is preparing for a major move: either continued gains or a sharp market shakeout. Until this range is broken, both bulls and bears have profit potential. I prefer buying long positions at low levels, a short-term strategy. We can use the one-hour moving average support as the long order buying point, buy in batches in the 4160-4180 area, and the middle track support point of the Bollinger band is also in this area.
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