XAUUSD trend analysis
Gold rose sharply last Friday due to the escalation of the situation in Russia and Ukraine, approaching the previous high of 1877. At present, the market has strong bullish sentiment, but I don’t think so. First, I think Russia and Ukraine cannot fight, and the panic caused by the news Gold will also fall if the news fades. Second, the possibility of raising interest rates in March and shrinking the balance sheet is very likely, which will still weigh on gold. Therefore, the short-term rise is just a return to the light of the bulls. After all the dust settles, gold will still see a decline. Today, we will focus on the high resistance of 1865 and 1877!
Gold strategy: Radicals go short in 1865-1863, steady ones go short in 1877-1875, stop loss 4 points, target 1830!
Gold strategy: Radicals go short in 1865-1863, steady ones go short in 1877-1875, stop loss 4 points, target 1830!
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