Analysis of gold price trend on Tuesday
Actualizado
In the early Asian session, spot gold fluctuated at a high level, hitting a one-week high of 2476; gold prices rose by more than $40 on Monday, driven by safe-haven inflows. In addition, traders are waiting for this week's US inflation data, which may provide more information on the Fed's rate cut path. Gold prices also benefited from safe-haven demand due to concerns about a larger war in the Middle East and Ukraine's offensive against Russia.
Mainly affected by rising tensions in the Middle East, gold soared by more than $40 on Monday, and the current gold bulls' goal is to hit historical highs. Sources in the Middle East said on Monday that they are worried that Iran and its proxies may attack Israel in the next 24 hours in retaliation for Haniya's killing in Tehran late last month.
U.S. Treasury yields fell on Monday, also providing gold prices with an opportunity to rise. Investors will also focus on U.S. producer price data on Tuesday and consumer price data on Wednesday to further understand inflation. These data are crucial for Fed policymakers to confirm whether it is necessary to adopt an easing policy at the September meeting.
[Technical side]
Gold daily line maintains a continuous positive structure and moves steadily higher, and the low point support moves up. With this kind of data and technical overlap, it is extremely easy for gold to challenge the historical high or even break the previous historical high. Trading ideas follow the trend to participate in low-price buying, the daily chart and the four-hour chart moving average open upward, and the RSI indicator turns upward.
It is currently close to the historical high, and it has reached 2480 for the third time recently. The current market shows that the selling pressure near 2480 is serious. The gold one-hour chart has fallen strongly. The short-term support is around 2450!
Trading strategy:
2450-2453 long, stop loss 2441, target 2470-2480;
2478-2480 short, stop loss 2489, target 2460-2450;
I'm here to help you learn a little bit about trading every day.
Mainly affected by rising tensions in the Middle East, gold soared by more than $40 on Monday, and the current gold bulls' goal is to hit historical highs. Sources in the Middle East said on Monday that they are worried that Iran and its proxies may attack Israel in the next 24 hours in retaliation for Haniya's killing in Tehran late last month.
U.S. Treasury yields fell on Monday, also providing gold prices with an opportunity to rise. Investors will also focus on U.S. producer price data on Tuesday and consumer price data on Wednesday to further understand inflation. These data are crucial for Fed policymakers to confirm whether it is necessary to adopt an easing policy at the September meeting.
[Technical side]
Gold daily line maintains a continuous positive structure and moves steadily higher, and the low point support moves up. With this kind of data and technical overlap, it is extremely easy for gold to challenge the historical high or even break the previous historical high. Trading ideas follow the trend to participate in low-price buying, the daily chart and the four-hour chart moving average open upward, and the RSI indicator turns upward.
It is currently close to the historical high, and it has reached 2480 for the third time recently. The current market shows that the selling pressure near 2480 is serious. The gold one-hour chart has fallen strongly. The short-term support is around 2450!
Trading strategy:
2450-2453 long, stop loss 2441, target 2470-2480;
2478-2480 short, stop loss 2489, target 2460-2450;
I'm here to help you learn a little bit about trading every day.
Operación activa
The market is heading towards 2450, the selling direction is correct, but the market is moving sideways, only scalp profits are obtained Operación activa
The selling direction is profitable again. Profits are expanding Operación activa
Click on my avatar and profile to see more analysis and signals
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.