When you look back at the market, you'll find history is strikingly similar.
Chart 1: After the May Day holiday, gold dropped to the 4500 low and continued to consolidate. The range of that consolidation kept getting tighter, and ultimately, when gold broke above the last downtrend point at 4585, it accelerated upwards. It peaked around 4770.
Chart 2: Currently, gold is in a similar situation. Although the price hasn't broken the 4590 support level yet, the short-term volatility is tightening, with the bottom prices consistently rising. Once it breaks above 4590, gold is set to rally hard $XAU #黄金
Chart 1: After the May Day holiday, gold dropped to the 4500 low and continued to consolidate. The range of that consolidation kept getting tighter, and ultimately, when gold broke above the last downtrend point at 4585, it accelerated upwards. It peaked around 4770.
Chart 2: Currently, gold is in a similar situation. Although the price hasn't broken the 4590 support level yet, the short-term volatility is tightening, with the bottom prices consistently rising. Once it breaks above 4590, gold is set to rally hard $XAU #黄金