Gold rose about $ 40 yesterday.

Factors influencing the decision to approved on $ 1.9 trillion stimulus package at the request of President Joe Biden decided this week to help revive the US economy. The price of gold has also gone up, with major investors pouring their money into buying gold. Demand for gold seems to be continues the rise.

Through the trading technical analysing, the price of gold for 4 hours chart and 1 day chart, the gold reached the second line, which is also its low price. And if we look at the gold for a week, the gold also shows the “Reject” sign, which means that the price of gold is not in line with the down trend, it will come back up. This is the good opportunity for those who want to invest in gold.

-Short Selling is completed, many large investors have already cut profits for short-term sell position.

According to my analysis, today’s recommendation is to buy gold at 1710.00, set stop loss at 1700 and take profit at 1725.00.

Analyzed by：Mr. Samnang Long，Independent Analyst