Is this the end of gold's price rally?
Hello everyone, today let's analyze the price movement of gold together! Will gold rise or fall?
After a historic price increase driven by the U.S. monetary easing policy and escalating tensions in the Middle East, gold prices have dropped today. The reason is the recovery of the U.S. dollar and the more cautious sentiment among investors following gold's continuous upward trend.
Looking at the technical chart, the fact that the EMA 34 line is below and the price has broken through the support level of 2,645 are strong signals confirming the downward trend of gold. Traders can take advantage of this opportunity to open sell positions, aiming to take profit as the price continues to fall. However, it is important to set stop-loss orders to manage risk effectively.
These are Alisa's thoughts. What about you, do you agree with me?
After a historic price increase driven by the U.S. monetary easing policy and escalating tensions in the Middle East, gold prices have dropped today. The reason is the recovery of the U.S. dollar and the more cautious sentiment among investors following gold's continuous upward trend.
Looking at the technical chart, the fact that the EMA 34 line is below and the price has broken through the support level of 2,645 are strong signals confirming the downward trend of gold. Traders can take advantage of this opportunity to open sell positions, aiming to take profit as the price continues to fall. However, it is important to set stop-loss orders to manage risk effectively.
These are Alisa's thoughts. What about you, do you agree with me?
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