Focus on the ascending triangle, can the bull market return?

4 giorni fa

#XAUUSD XAUUSD

Judging from the hourly chart, gold has the potential to form an ascending triangle in the short term. The European session continues to consolidate and does not provide a good opportunity to enter the market, waiting for the US session to decide the direction. The first resistance above continues to focus on 4275-4285. If the ascending triangle pattern is established, once this resistance range is broken, the rise may continue to the upper resistance near 4315 or even 4330. Therefore, you must be cautious when trading in the US market, and be sure to strictly use SL when shorting when it first touches 4275-4285.

4 giorni fa

Trade attivo

Currently, gold has risen as expected and reached 4330. In the short term, gold will continue to rise. Whether from the hourly chart, 2H chart or 4H chart, gold is already above the middle track, which is in line with our judgment that gold will return to rise.

But from a technical point of view, if gold prices want to rise further in the short term, there needs to be a correction process. Be wary of gold prices rising first and then falling in the US market. Therefore, do not blindly chase the rise at this time. Wait patiently for a pullback before going long. Pay attention to the support below 4290-4280, and aggressive investors can enter the market around 4300.