Hello traders,
Gold stabilized and rose at 2424 this week, and closed with a big positive weekly line. There will be a high point next week. According to the rising trend of this week's closing close to the highest price, the upper side is likely to go to 2430, to be exact, around 2537. If this position is not broken, start to go short. If it stabilizes at 2537 again, there will be room for another 10-30 US dollars to rise. This strong rising market is at such a high position, and we must also prevent a short-term peak and a big drop one day, so we should be cautious in chasing more. The lower support top and bottom conversion near 2484 and the strong support near 2445 are both long positions, but they cannot be given at the beginning of the week. If they are given in the middle of the week, it may not be a good opportunity. Yesterday, gold stabilized near 2450, broke through 2484 in the US market, and reached a new high near 2509 in the second half of the night, with a big positive daily line. As long as it does not open high and pull sharply on Monday, there will be a wave of more when it falls back. Go long near the top and bottom conversion near 2500 first, if it is not so strong, go long near 2490 or 2480. The upper side is around 2530-2537, and if it breaks, it will be around 2547 or even higher.
Operation suggestion: Buy near 2500 (2490) in the early trading on Monday, and the target is around 2537. If it breaks, look at 10-30 US dollars. If it does not break, go short. Yesterday, it was long around 2452, and short at 2491 and 2499. It broke 2500 in the second half of the night, which was beyond expectations.