Don’t be too optimistic about the rebound, continue to be short

Most people draw curves for their own transactions and observe the growth rate and retracement. In fact, the comprehensive curve of life is more important than the trading curve. If you use ten years as a unit, the growth curve between the self ten years ago and the self today, whether it is wealth or cognition, is the real coordinate of infinite life.


Yesterday, Federal Reserve Chairman Powell reiterated his hawkish stance. The stock market did not show much performance. Now the voice of interest rate cuts continues to come out. It is expected that 2024 will be the year of interest rate cuts. There is still room, and cooling inflation is the focus now.


In addition, the number of initial jobless claims in the United States for the week ending June 24 was 239,000, the expected value was 265,000, and the previous value was 264,000. The price of gold fell to $1,892 per ounce. If you read the blog post yesterday, I am very clear about the target area of the 1910 short order, which was near the lowest point hit in the US market just now. I saw a strong counterattack at the end of the day, but the overall weak situation has not changed.


As shown in the picture, the price of gold fell rapidly after rebounding above 1910 yesterday. Although there was a rebound in the second half of the U.S. market, don’t be too optimistic before the upper pressure point breaks through. Extremist, after the current arrangement, it is expected that there will be a slight rebound to lure the bulls, so that those who missed the bulls last night will continue to chase the bulls, and then there will be another negative decline. The pressure area is still in the 1915-1916 area, and then you can continue to lay out the space.


Gold strategy: gold rebounds in the area of 1912-1914, stop loss 1922, target 1890-1885.

The trend is still floating within my analysis, hello traders, please continue to pay attention to my analysis, I wish you a happy life

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For me, the analysis is so simple, gold is falling, if you don’t believe me, go and see