#XAUUSD 
XAUUSD GOLD
Although the beginning of the week didn't offer a pullback entry opportunity, gold rallied immediately after the open, breaking through 4030 as expected and continuing its upward trend, officially signaling the return of the bulls to the market.
From the hourly chart, gold broke through the resistance of the upward channel at 4055 and continued to fluctuate upwards, indicating that the bullish momentum remains strong in the short term. However, attention should be paid to the resistance at 4080-4100 from the weekly MA5 moving average and the daily middle line, and be wary of a possible pullback after a surge. Therefore, in the short term, avoid blindly chasing the rally, patiently waiting for a pullback to buy remains our main trading strategy. The first support level to watch is the 4055-4045 level, a previous resistance turning point, followed by the important support at 4030-4020.
Therefore, if gold prices fall back after encountering resistance during the European session, we can consider going long on gold in batches based on the strength of the pullback.
XAUUSD GOLD Although the beginning of the week didn't offer a pullback entry opportunity, gold rallied immediately after the open, breaking through 4030 as expected and continuing its upward trend, officially signaling the return of the bulls to the market.
From the hourly chart, gold broke through the resistance of the upward channel at 4055 and continued to fluctuate upwards, indicating that the bullish momentum remains strong in the short term. However, attention should be paid to the resistance at 4080-4100 from the weekly MA5 moving average and the daily middle line, and be wary of a possible pullback after a surge. Therefore, in the short term, avoid blindly chasing the rally, patiently waiting for a pullback to buy remains our main trading strategy. The first support level to watch is the 4055-4045 level, a previous resistance turning point, followed by the important support at 4030-4020.
Therefore, if gold prices fall back after encountering resistance during the European session, we can consider going long on gold in batches based on the strength of the pullback.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.