Wait for new highs and go long on pullbacks

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A good day starts with profits, now let's analyze the trend of gold today.📊

Gold is currently consolidating around 3650, with 3655-3665 forming short-term resistance above. The 4H MACD indicator is correcting a top divergence. Having first touched this resistance level in the European session, gold may experience a pullback. 📉As the price of gold continues to rise, the short-term support also moves up. Pay attention to the short-term support area formed by 3640-3630. 🌈If gold retraces support and then rebounds above this resistance level, it could first reach 3675, or even reach a new high of 3690-3700, as we anticipated yesterday.🚀

Intraday operations are mainly long at low levels, supplemented by short at high levels, and participate in trading in key ranges.

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Giao dịch đang hoạt động

As expected, gold retreated to the support area of 3640-3630 and then rebounded. Our long trade has already made a profit of nearly 100pips. In the short term, the pressure of 3655-3665 for gold is still there. You can choose to reduce your position or take profit and exit according to the profitability of your own account. If the support is not broken during the NY period, you can still consider going long on gold.