Gold price have accurately tested the support convergence zone we calculated last week, but it has not yet surpassed the current highest peak at 2685. This also implicitly confirms that the white t2 has ended.
Now, the price is in the range of the recovery wave. It is likely to move sideways between the two key technical levels of 2660-2632.
Usually, when the price enters a recovery wave, we adjust our strategy to buy or sell when it reaches either of these 2 technical levels. However, with the current data, all timeframes and indicators indicate a strong upward trend in gold prices. So, we should minimize short-sell and focus on identifying potential buying points.
Wishing all investors intelligent and effective investment strategies! And stay tuned for the next gold price updates.
By. Pham Thanh Bien
