In the European market yesterday, gold rose as high as 1763.77, while in the U.S. market COMEX sold gold worth nearly 524 million U.S. dollars, prompting gold to drop to 1739.
The H4 chart is currently in the form of an ascending channel. After touching the bottom of the channel yesterday, it opened higher this morning and is now quoting the current price of 1751.72. And using the Fibonacci backtest, the price reversed and went up after touching the 0.786 position, indicating that the support at the 0.786 position has worked, and you can choose to enter the market at a low point to see more.
The RSI on the H1 chart broke through upwards to form a golden cross, and it also stayed above 50, and the trend turned further. At present, the price is challenging the resistance level of 1752 above. From the current point of view, it is beneficial to continue to push the price to continue to rise.
Suggestions for ordering:
Enter the market at a low position and do more.
All transactions involve risks, and the above analysis is for reference only. Be sure to set the number of hands and remember to set a stop loss when placing an order.