Wang Chao: Spot Gold Trading Strategy on Wednesday, June 24

2020年6月24日

Wang Chao: Spot Gold Trading Strategy on Wednesday, June 24

Direction: bullish

Spot prices declined slightly during the Asian session on Tuesday, and then began to rise all the way, once breaking through the $1,770 mark.
It continued to hit a new high since October 2012, and narrowed the increase in late trading, but it still closed above $1,760.
At the close, spot gold rose 0.77% to $1,767.57 per ounce;

Technical analysis: In the third wave of the monthly line, the weekly price callback rebounded and rose by the 50-day moving average; The general direction of bulls is unchanged;
If the short-term price breaks 1774, the market outlook is expected to rise 1778-1780-1825;
The mid-term market outlook is bullish 1800-1900;
In the long run, if it breaks through 1920, the market outlook is expected to rise to the height of 2700-3700 US dollars in 5 to 10 years;

Short-term trading strategy: look for opportunities to enter after reaching a new high; Look at 1778-1780; Now 1770;

Medium and long-term trading strategy: long near 1750, stop loss 1730, target 1778-1825