Gold hit a new all-time high near 3758 on Monday; on Tuesday, prices continued their relentless rise, currently reaching a high near 3791.
From a technical perspective, the Bollinger Bands have opened upward again, and the price is continuing to move within the upper Bollinger Bands, suggesting continued short-term gold gains. Gold is trading upwards, supported by the MA5 moving average. The trend is clear, with minimal room for correction. There's no strong resistance above. The 3780 resistance level I mentioned in the Asian session was strongly broken through in just five hours.
Short-term trading remains bullish, with support below the 1-hour line around 3735, and further retracement focusing on the 3725-3715 area. On the whole, the short-term operation strategy for gold is to mainly go long on pullbacks and short on rebounds. The short-term focus on the upper side is the 3790-3800 resistance, and the short-term focus on the lower side is the 3750-3740 support.
From a technical perspective, the Bollinger Bands have opened upward again, and the price is continuing to move within the upper Bollinger Bands, suggesting continued short-term gold gains. Gold is trading upwards, supported by the MA5 moving average. The trend is clear, with minimal room for correction. There's no strong resistance above. The 3780 resistance level I mentioned in the Asian session was strongly broken through in just five hours.
Short-term trading remains bullish, with support below the 1-hour line around 3735, and further retracement focusing on the 3725-3715 area. On the whole, the short-term operation strategy for gold is to mainly go long on pullbacks and short on rebounds. The short-term focus on the upper side is the 3790-3800 resistance, and the short-term focus on the lower side is the 3750-3740 support.
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