Looking back at the market in May and June, although gold has experienced adjustments, its shape is very resilient. In the monthly cycle, the price of gold is firmly above the MA5 moving average. From the perspective of large-cycle technical analysis, this is a typical strong bullish pattern, demonstrating the strong control of the bulls. As the adjustments are gradually in place, the later bullish outbreak is worth looking forward to. However, the adjustment to 3247 this time is not small, so in the short term, the gold price is likely to fluctuate upward. At present, 3451 is an important watershed. Once it is effectively broken through, the gold price is expected to hit the 3500 mark, and I personally believe that 3500 will not be the end point, and it is expected to be refreshed later.
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95% correct trading signals👇👇👇
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.