Gold hit the bottom and recovered to close as expected on Wednesday. The price of gold retraced its lowest support of 2351.7 and started to rise. It closed at 2385 in late trading, with a daily increase of 1.18%. It is a strong closing pattern, which also laid the foundation for
Technically, after the daily closing of the Yang line, the gold price rushed towards the 2400 mark to test the resistance. Although there was no direct breakthrough in early trading, and the market has briefly entered the correction stage after the short-term retracement, we are still optimistic about the market breakthrough later.
In the short term, we can only look at the conversion support of the previous high of 2378. If 2378 does not break, the market will stabilize and rise again. The best choice for intraday operations is to follow the trend with long orders.