XAUUSD: Buy order has been closed, sell at high level again
Currently, gold is clearly in a volatile upward stage, the volatility is not very large, and the price range has been running between the upper and lower counters of the Bollinger Bands. Today we bought when the price of gold fell to 2342 and successfully reached TP2355. Now the price is again near the Bollinger Band upper limit, and the opportunity to sell has come. I am ready to sell near this area.
News: According to multiple Israeli media reports on Monday, Israeli and Egyptian soldiers exchanged fire at the Rafah crossing. An Egyptian soldier died in the "rare" firefight. This news became the main reason for the sudden surge in gold prices yesterday.
Judging from yesterday's performance, gold prices did not rebound too much, indicating that there is little risk aversion this time and the pressure from above is strong. Market expectations for the Federal Reserve to cut interest rates this year are declining, which may put pressure on a rebound in gold prices.
Technically, we need to pay attention to the pressure near 2360. If the gold price can break through 2360, we will no longer be bearish in the market outlook and will have to reconsider long orders. Below, we still pay attention to the support of the previous low of 2325.
News: According to multiple Israeli media reports on Monday, Israeli and Egyptian soldiers exchanged fire at the Rafah crossing. An Egyptian soldier died in the "rare" firefight. This news became the main reason for the sudden surge in gold prices yesterday.
Judging from yesterday's performance, gold prices did not rebound too much, indicating that there is little risk aversion this time and the pressure from above is strong. Market expectations for the Federal Reserve to cut interest rates this year are declining, which may put pressure on a rebound in gold prices.
Technically, we need to pay attention to the pressure near 2360. If the gold price can break through 2360, we will no longer be bearish in the market outlook and will have to reconsider long orders. Below, we still pay attention to the support of the previous low of 2325.
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