Combining the four-hour gold price trend chart below, we can see that the gold price is still in a high box and fluctuating normally. The price is still moving in the SMA20-SMA50 range, relying on the support of SMA50 below, and intends to continue moving upward.
Combined with the one-hour trend chart below, the gold price is above the lifeline of SMA200, and the price is above SMA20, in normal operation
Combined with the thirty-minute trend chart. In the short term, SMA20 and SMA50 are about to form a cross, which will promote further strengthening of gold prices.
Comprehensively evaluated, the general trend is upward, relying on the support of the news, the short-term trend is still in a strong upward stage. It is necessary to observe that if the position of 2906-2913 is effectively broken, the upper 2920-2942 will be touched again. If there is no news that is bearish for gold prices, the rise will proceed slowly. On the contrary, when the factors that are favorable to the rise of gold prices are announced, the gold price will rise rapidly to the first-line position.
Therefore, the short and medium term are mainly based on long gold prices. It is better to miss the short-selling opportunity than to take the risk of shorting the gold price and gain profits that do not belong to you.
Friendly reminder: Because the US stock market is closed today, the impact on the gold price will be reduced after the New York market opens.
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