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