The price of gold hit $2,288 again this morning, setting a record high, and the overall market showed a strong trend. Although the market is showing strength, it is not recommended to blindly chase long prices, especially when it is close to historical highs. Such an operation may not be rational enough. The price of gold continued to rise and stabilized yesterday night. The moving averages of each cycle showed a bullish arrangement and formed strong support. The short-term indicators diverge upwards and the red energy column strengthened, further highlighting the strength of the bulls. The daily line overall shows a strong trend.
The gold market has reached its current highest price in history. No one should doubt that it is an upward trend, a bull market and the investment with the best growth this year. For investors, the best thing to do is to go with the trend. In the short term, the lower support is located at $2,265. If the white market can retrace to this position, you can consider following up and going long. If the white market cannot retrace but remains at a high level, the price of gold may continue to rise in the evening. In this case, there is no need to wait for a retracement and one can directly follow the bullish move. Since the market is strong, the target for another rise can be towards the $2,300 mark, or even towards $2,310 after a breakthrough.
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