GOLD: Buy Traders Still the Main Forces!
$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2506(GCmain)$ Technical: Gold prices retreated on Monday as traders appeared to be taking profits amid thin liquidity and low volatility during the U.S. holiday period. Not enough, Trump's inconsistency on trade policy could lead to sharp price swings when trading resumes on Tuesday.
The bullish trend for gold remains intact. Gold could test last week's high of $3,365. If it breaks above that level, the next target for gold would be $3,400, followed by the May 7 high of $3,438 and the all-time high of $3,500.
On the bearish side, if gold falls below $3,300, it is expected to fall to the May 20 low of $3,204, followed by the 50-day simple moving average (SMA) of $3,199.
Trades are keeping buy trades as the main focus! Trading range is at 3318-3370!
Buy：3325 TP:3350 SL:3315
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