Gold has now broken through the 2900 mark and reached 2930 and continues to show a strong upward trend.
The key question today is: Can the rise continue, or will there be a short-term correction?
Trend analysis
1. Technical aspects:
• If gold breaks through $2950, it may further hit the $2980-3000 mark.
• If it encounters resistance at a high level, it may short-term pullback to the $2900-2920 area.
2. Market sentiment:
• Safe-haven funds continue to flow in, driving gold prices up rapidly.
• If there is profit-taking in the market, it may lead to short-term fluctuations.
3. Dollar and interest rate factors:
• If the dollar continues to weaken, gold will remain strong.
• If U.S. bond yields rebound, gold may face certain pressure.
Trading strategy
• Aggressive long: If gold breaks through $2,950, you can follow the trend, with a target of $2,980-3,000 and a stop loss of $2,930.
• Short on rallies: If gold encounters resistance and falls back at $2,950, you can consider shorting with a light position, with a target of $2,900 and a stop loss of $2,965.
• Buy on pullback: If the gold price falls back to $2,900-2,920, you can consider placing long orders at a low level, with a target of $2,950-2,980.
Summary
Gold is still in a strong upward trend. If it breaks through $2,950, the short-term target will be $3,000. However, we need to be wary of high-level fluctuations, and the possibility of a short-term pullback to $2,900-2,920 still exists.