Gold prices soared after the Asian market opened, reaching an intraday high near 3363. However, today's market is also affected by many black swan events.
Event summary:
On the eve of the ceasefire negotiation between Russia and Ukraine, Ukraine attacked a Russian military base with a drone; the United States said it was unaware of the incident.
Trump made a statement saying that China violated the relevant provisions on trade tariffs, and then the US Treasury Secretary said: The United States will never default. This news has worsened Sino-US trade relations.
Due to the sudden black swan event, the sentiment for gold as a safe-haven asset has rapidly heated up, and the price of gold has skyrocketed in the Asian market.
At present, due to the impact of international events, the price of gold has calmed down after the correction, and is currently consolidating around 3355. The 1-hour chart shows that the 5-day MA moving average is currently flat, but the 10-day and 30-day MA moving averages have turned sharply and are on an upward trend, so I think that the current rise in gold has not yet reached its peak.
Market analysis:
The support level in the Asian morning session is around 3300, and the gold price has successfully stood above 3330, and the lower support has also moved up to around 3330; the intraday gold price has a very small retracement, and it is still breaking through the upper side. It is currently trying to break through the cycle suppression level of 3365. After a strong breakthrough, it will reach the cycle high point of 3370. If it fails to break through strongly, the price will fall below 3365 and may touch the current support level of 3330.
Operation strategy:
Buy near 3345, stop loss 3335, target range 3360-3370.
Event summary:
On the eve of the ceasefire negotiation between Russia and Ukraine, Ukraine attacked a Russian military base with a drone; the United States said it was unaware of the incident.
Trump made a statement saying that China violated the relevant provisions on trade tariffs, and then the US Treasury Secretary said: The United States will never default. This news has worsened Sino-US trade relations.
Due to the sudden black swan event, the sentiment for gold as a safe-haven asset has rapidly heated up, and the price of gold has skyrocketed in the Asian market.
At present, due to the impact of international events, the price of gold has calmed down after the correction, and is currently consolidating around 3355. The 1-hour chart shows that the 5-day MA moving average is currently flat, but the 10-day and 30-day MA moving averages have turned sharply and are on an upward trend, so I think that the current rise in gold has not yet reached its peak.
Market analysis:
The support level in the Asian morning session is around 3300, and the gold price has successfully stood above 3330, and the lower support has also moved up to around 3330; the intraday gold price has a very small retracement, and it is still breaking through the upper side. It is currently trying to break through the cycle suppression level of 3365. After a strong breakthrough, it will reach the cycle high point of 3370. If it fails to break through strongly, the price will fall below 3365 and may touch the current support level of 3330.
Operation strategy:
Buy near 3345, stop loss 3335, target range 3360-3370.
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