Gold breaks through 3500! Prove it with strength!

9월 2일

https://www.tradingview.com/x/lHsxAyRe/

💡Message Strategy

Gold hits new all-time high as expectations of a Fed rate cut continue to build

On Tuesday (September 2nd), the international gold price broke through the $3,500 mark, reaching a new all-time high. As market expectations for a Fed rate cut this month grow, demand for precious metals has significantly increased. Spot gold traded at $3,480 in European trading, briefly hitting an intraday record high of $3,508.50.

One of the main factors driving the latest surge in gold prices is rising market expectations for a Fed rate cut, even if the cut is only 25 basis points. Following significant downward revisions to U.S. labor market data for May and June, market expectations for long-term monetary policy easing have significantly strengthened.

📊Technical aspects

First, regarding the daily gold chart: Yesterday, the market closed positively against the 5-day moving average, marking its fifth consecutive day of gains. In a unilateral uptrend, the most common pattern is a pattern of consecutive positive days followed by a single negative day. The more consecutive positive days, the stronger the trend. If a negative day occurs, it signals a short-term correction, followed by another positive close the next day. At most, there will be two negative days, and the market will continue to rise above the 5-day and, at the very least, the 10-day moving average.

This is why we've been able to perfectly grasp each of these gold market trends. Maintain a bullish trend. Believe in the trend and don't underestimate its allure.

Second, regarding the 4-hour gold chart: The 6:00 PM close saw a large bearish candlestick retracing its previous close, engulfing the morning's large bullish body. However, it has only pierced the 10-day moving average and hasn't yet effectively broken through it. It has now begun to close positively and rise again. Once the 10:00 PM close re-establishes its position above the 5-day moving average, the market will strengthen again. Otherwise, if the market rises and then falls again, a move above the middle moving average would be a good low-level bullish entry point. Maintain a bullish outlook.

💰Strategy Package

Long Position:3470-3380，SL:3450，Target: 3520

9월 2일

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