Yesterday, the gold market opened around 1922 in early trading. Afterwards, the market rose slightly to 1924.5. Afterwards, the market fluctuated strongly and fell back below the 1915 support mark. After that, the market reached as low as 1907.64. Afterwards, the market consolidated and the daily line finally closed at 1913.5.
Wednesday: Gold rebounded at the opening, but the strength is expected to be limited. The U.S. dollar index extended the overnight retracement pressure and fell in early trading, which did not have a significant effect on gold. The 10-year U.S. bond yield is expected to remain strong in the short term, which limits the demand for gold price recovery.
In the daily K-line chart, the stochastic indicator continues to die cross downward, which indicates the main bearish signal. As long as the dead cross is still there, it will continue to run bearishly downward according to the dead cross; the pressure position of the central axis is the position of the top-bottom transition. It is around 1915; therefore, the main focus is on the position of 1915 during the day; rebounding from around 1907 to around 1915, stabilizing and regaining the position of 1915, then the bulls still have some hope, otherwise the shorts will just control the market and run bearishly downward; the 4-hour chart structure There was a two-wave small step shock and decline. It had been under pressure twice in a row at 1930. It broke through the low again and formed a two-wave continuation. The current second high of 1930 is the critical point for shorts to fall back, and the fall will continue in the short term. After the sideways consolidation at the beginning of the week, gold successfully broke through the lower support line of 1915. In the next trend, we will take advantage of the trend to see a new round of downward structure after breaking through. Therefore, for the operation in the market outlook, we should still focus on selling high. It should be noted that , support turns into resistance, and the temporary support below sees the 1900 integer mark.
Gold operating strategy:
SELL:1915-1918
SL:1923
TP1:1911
TP2:1907
BUY:1900-1903
SL:1896
TP1:1909
TP2:1914
Wednesday: Gold rebounded at the opening, but the strength is expected to be limited. The U.S. dollar index extended the overnight retracement pressure and fell in early trading, which did not have a significant effect on gold. The 10-year U.S. bond yield is expected to remain strong in the short term, which limits the demand for gold price recovery.
In the daily K-line chart, the stochastic indicator continues to die cross downward, which indicates the main bearish signal. As long as the dead cross is still there, it will continue to run bearishly downward according to the dead cross; the pressure position of the central axis is the position of the top-bottom transition. It is around 1915; therefore, the main focus is on the position of 1915 during the day; rebounding from around 1907 to around 1915, stabilizing and regaining the position of 1915, then the bulls still have some hope, otherwise the shorts will just control the market and run bearishly downward; the 4-hour chart structure There was a two-wave small step shock and decline. It had been under pressure twice in a row at 1930. It broke through the low again and formed a two-wave continuation. The current second high of 1930 is the critical point for shorts to fall back, and the fall will continue in the short term. After the sideways consolidation at the beginning of the week, gold successfully broke through the lower support line of 1915. In the next trend, we will take advantage of the trend to see a new round of downward structure after breaking through. Therefore, for the operation in the market outlook, we should still focus on selling high. It should be noted that , support turns into resistance, and the temporary support below sees the 1900 integer mark.
Gold operating strategy:
SELL:1915-1918
SL:1923
TP1:1911
TP2:1907
BUY:1900-1903
SL:1896
TP1:1909
TP2:1914
Сделка активна:
It’s a pity that today’s big CPI market can only earn meager profits.
Сделка активна:
The direction of gold’s decline is accurate. I’ll wait for you at the old place.
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Due to the sharp rise in energy prices in August, the overall inflation in the CPI report will rebound significantly, which increases the uncertainty of this data market. Therefore, traders do not dare to make rash bets. Trading volume and open interest are sluggish before the data. It implies that there is no upward breakthrough momentum, so gold bulls have to leave the market to avoid risks before the data. That's what caused yesterday's sharp drop.
Please be cautious in trading today, many blind investors will lose all their money today