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Iran's Deputy Foreign Minister: Military operations on all fronts, including Lebanon, will immediately and permanently end tonight. The US naval blockade against Iran will also end tonight.
Multiple positive factors have caused gold to jump directly to around 4300. Support levels to watch are 4270-4280. A pullback could present a buying opportunity. On the upside, watch 4350, a key turning point for bulls and bears; a small sell order could be placed at 4350.
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Gold has risen sharply as expected, currently reaching $4320. Key resistance levels are at $4370 and $4440.
If gold cannot effectively hold above $4400, it is expected to remain in a range-bound trading pattern this week.
The specific direction will depend on the outcome of the formal agreement between the US and Iran on Friday.
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Following the US-Iran talks, gold opened sharply higher, returning above 4300.
The short-term trend for gold is bullish.
The short-term trading strategy is primarily to buy on dips, with selling on rallies as a secondary approach.
Currently, gold is trading around 4290. Barring any unexpected news,
we are watching the resistance levels around 4340-4350 and the support levels around 4210-4220.
If gold fails to break out of the 4220-4350 trading range, we recommend buying low and selling high within that range. The gap created by the recent price action will take time to fill.
In the short term, we can wait for gold to rebound to the 4310-4320 area and encounter resistance, then establish a small short position near the 4320 resistance level.
Alternatively, we can wait for gold to pull back to the 4240-4250 area and find support before going long.
Avoid blindly entering the market in the short term; trade cautiously and wait for the right opportunity.
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Gold has entered a significant FVG zone and should recover soon. We can consider selling at the high point; if we can recover all the losses, the return will be very high.
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