The market is ever-changing, and following the trend is the best path. Trade immediately when the trend emerges; don’t try to go against it, or you’ll suffer. Remember not to act on impulse when trading; the market is a cure-all for any kind of resentment. I’m sure many of you have experienced this: enduring losses only to see them pile up, leading to sleepless nights and poor sleep, and wasted opportunities. If you need help, I’ll always be here, but if you don’t even offer a hand, how can I help you?
Gold’s trend this week is consistent with our analysis from last weekend, with bullish sentiment and long positions decisively winning. Combined with Friday’s non-farm payroll data, we also successfully predicted a potential push for gold towards the 3600 level. By the close of the week, gold had reached a high of 3600 before fluctuating back to 3586. Gold still hasn’t shown any signs of a significant unilateral decline, and bulls remain strong. Next week, we will continue to prioritize buying on pullbacks. Considering the 3600 level was touched before the close, if bulls continue their upward momentum, 3600 will be difficult to withstand. A break above 3600 is inevitable, but this process may require pullbacks to build momentum before a surge. Next week, we will continue to prioritize buying on pullbacks, as bullish sentiment remains the primary trend. If your current trading is not ideal, I hope I can help you avoid investment pitfalls. Welcome to discuss your options!
Gold prices this week reached a high of 3600 before fluctuating lower. Downside support is expected at 3558-3563, with 3538-45 as a key support level. The short-term bullish trend line has moved up to 3510. Once it stabilizes above 35530, the trend remains unchanged, with a continued push back to buy low. Avoid counter-trend short positions. I’ll provide detailed trading strategies during the trading session, so stay tuned.
Go long on gold if it retraces to 3558-3565, targeting 3595-3600. Continue holding if it breaks below.
