Gold prices continued to rise strongly today, hitting a new record high and approaching the $2,450 mark. With the end of last week's double-negative adjustment, gold prices closed positive on the weekly chart, indicating that the upward trend is still strong.
On the 1-hour chart, gold prices are currently in an upward trend and have shown strong upward momentum after hitting a new record high. Prices are currently running above the short-term moving average, and the 5-hour and 20-hour moving averages are in a bullish arrangement, indicating strong buying power in the short term. On the 4-hour chart, gold prices are clearly in an upward channel, and the overall trend is upward. MA prices are running above the 50-hour and 200-hour moving averages, and the moving averages are in a bullish arrangement, indicating that the medium-term upward trend is still intact. RSI is currently above 70, showing an overbought state, indicating that there may be a short-term correction risk. The MACD line and the signal line remain in an upward divergent state, and the bar chart expands in the positive area, indicating that the bullish power continues in the medium term. The short-term support level is around 2428-2425. If it falls all the way, the space will increase, and it can be further seen to 2395-2400. The upper resistance level is 2445-2450. If it breaks through 2450 effectively, it may rise further.
