Safe-haven demand is increasing. A new upward trend is beginning

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Safe-haven demand is increasing. A new upward trend is beginningGoldOANDA:XAUUSDWealth_WalletThis weekend, the United States launched a direct military attack on Venezuela, arresting the president and his wife. Like the war in Afghanistan, this move once again shocked the world. Although it faced condemnation from around the globe, there was little anyone could do but condemn the action. At the same time, the US announced its formal takeover of Venezuela and the establishment of oil extraction projects, a blatant plunder of resources, and risk aversion swept through the entire market once again. Although the gold market fell sharply from its historical high of 4,549 last week, it stabilized and rebounded near 4,272 before encountering resistance again near 4,404. After retracing to the 4300 level on Friday and stabilizing, influenced by the international situation, Monday is likely to open higher. If the gap up is not significant, consider entering long positions at the open. Pay attention to the resistance level of the 4400-4410 double bottom. A successful breakout could lead to further upward movement. Conversely, referring to the trend of silver, there will be further adjustments. The short-term watershed is around 4370. The specific situation needs to be observed after the Asian market opens on Monday and the continuation of the trend in the European session. Trading Recommendations: If gold does not rise above 4370, go long and target around 4400. Subsequently, monitor the 4410 resistance level. A breakout will reopen the upward channel. I will post more strategies in the channel.