Tuesday Market Analysis and Signals
Обновлено
Gold fluctuated in a narrow range on Tuesday, and the current price is around 2,500. Gold prices rebounded slightly on Monday, rising above the 2,500 mark. The rebound of U.S. Treasury yields was blocked, providing gold prices with a rebound opportunity, but the rebound of the U.S. dollar index limited the rise of gold. Investors are waiting for the U.S. inflation report to provide further clues to the scale of the Fed's possible rate cut.
Investors are now paying attention to the U.S. consumer price data for August to be released on Wednesday and the producer price index on Thursday. A report released by the New York Federal Reserve on Monday showed that the U.S. public's expectations of inflation pressure in August did not change much as current price pressures continued to fall.
Technical side
Yesterday, gold formed a bottoming out and rebounded, and it turned to long and maintained a strong closing. The price once again stood above the 2,500 mark, and the RSI indicator remained above the central axis. The short-term four-hour chart once again stood above the middle track of the Bollinger band and the moving average, and the RSI indicator broke through the central axis and hooked upward. The hourly moving average opened upward, and the Bollinger band opened upward. Gold technically formed a bottoming out and rebounded strongly at the end of the day, and the intraday trading callback was low and long. The overall rhythm is expected to rise first and then fall.
Trading strategy:
2488-2490 long, stop loss 2479, target 2510-2520;
2518-2520 short, stop loss 2529, target 2500-2490;
For more signals and analysis, please check my profile
Investors are now paying attention to the U.S. consumer price data for August to be released on Wednesday and the producer price index on Thursday. A report released by the New York Federal Reserve on Monday showed that the U.S. public's expectations of inflation pressure in August did not change much as current price pressures continued to fall.
Technical side
Yesterday, gold formed a bottoming out and rebounded, and it turned to long and maintained a strong closing. The price once again stood above the 2,500 mark, and the RSI indicator remained above the central axis. The short-term four-hour chart once again stood above the middle track of the Bollinger band and the moving average, and the RSI indicator broke through the central axis and hooked upward. The hourly moving average opened upward, and the Bollinger band opened upward. Gold technically formed a bottoming out and rebounded strongly at the end of the day, and the intraday trading callback was low and long. The overall rhythm is expected to rise first and then fall.
Trading strategy:
2488-2490 long, stop loss 2479, target 2510-2520;
2518-2520 short, stop loss 2529, target 2500-2490;
For more signals and analysis, please check my profile
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