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Review of yesterday's market trends and technical points:
Gold: Yesterday's opening gapped up and touched the upper track of the short-term channel and the 618 split resistance level of 3374. After being under pressure, it filled the gap and continued to choose to be bullish after stabilizing close to the middle track of the hourly line; the European session attacked 3374 many times without success, and the US session lost the middle track of the hourly line downward, which means that it is not urgent to be bullish repeatedly above the intraday low; finally lost the lower track of the short-term channel, so there will be a certain downward correction, but follow the trend of last Thursday and Friday. , the downward correction space is not large, just still stable above the daily middle track 3340, so use this as a defense, so continue to try to be bullish, today as expected ushered in a wave of higher;
Today's market analysis and interpretation:
First, the gold daily level: three consecutive positives and negative closing is a correction. According to the recent shock cycle, today is expected to close positive, and the focus is on whether the market can continue to rise in the future; today, the first thing to pay attention to is whether the middle track 3340 can stabilize and continue to rise, because yesterday's negative line is considered to be a correction. If the market can continue to fluctuate, then there is hope for testing 3400 and above; on the contrary, if it falls back to 3340 or below today, it will continue to hover below the resistance level of 3375, and the lower track line of the convergence triangle will support above 3300; then the CPI inflation data released today will be relatively important, and the market expects it to increase to 2.7% this time. Once the announced value is greater than or equal to 2.7%, then inflation will rise, which will weaken the interest rate cut and suppress the gold price; on the contrary, if the announced value is less than 2.7%, it does not meet the The market is expected to boost gold prices; if it is less than or equal to 2.4%, the probability of interest rate cuts will be increased, which will significantly boost gold prices;
Second, the 4-hour level of gold: today's focus is on the upper support of the lower middle track 3340 and the lower resistance of 3375 above, to see which side is effectively broken;
Third, the hourly level of gold: after stabilizing 3340 today, it will break through the early morning resistance level of 3351-52 and hit the 3365-66 line, so the overnight low bullishness will be successful; Currently it is running in a narrow range of 3365-3356, which means waiting for today's data; from a technical perspective, pay attention to the support of the middle track 3352 on the bottom. If it stabilizes, you can continue to be bullish. Pay attention to the resistance of 3374-75 on the top. Only when the big sun or continuous sun breaks through can new room for pull-up be opened; if the data is bearish and the middle track is not held downward, there is no rush to be bullish. Wait for the downward momentum to slow down, and a stop-loss signal will appear. If there are signs of sideways trading at the bottom, choose to layout low and long. Below 3340, there is still 3334 and 618 support, which is also the annual average. If it goes down again, it will give a good bottom speculation low. You can directly sell below 3310. The market will still repeatedly attack the resistance of 3365 and 3374 if it is stable; as long as it converges along the lower track of the daily triangle, the lows gradually move up, and every time it approaches the low, it is a good bottom speculation point, and there is basically a pull-up of 50-100 US dollars.
Review of yesterday's market trends and technical points:
Gold: Yesterday's opening gapped up and touched the upper track of the short-term channel and the 618 split resistance level of 3374. After being under pressure, it filled the gap and continued to choose to be bullish after stabilizing close to the middle track of the hourly line; the European session attacked 3374 many times without success, and the US session lost the middle track of the hourly line downward, which means that it is not urgent to be bullish repeatedly above the intraday low; finally lost the lower track of the short-term channel, so there will be a certain downward correction, but follow the trend of last Thursday and Friday. , the downward correction space is not large, just still stable above the daily middle track 3340, so use this as a defense, so continue to try to be bullish, today as expected ushered in a wave of higher;
Today's market analysis and interpretation:
First, the gold daily level: three consecutive positives and negative closing is a correction. According to the recent shock cycle, today is expected to close positive, and the focus is on whether the market can continue to rise in the future; today, the first thing to pay attention to is whether the middle track 3340 can stabilize and continue to rise, because yesterday's negative line is considered to be a correction. If the market can continue to fluctuate, then there is hope for testing 3400 and above; on the contrary, if it falls back to 3340 or below today, it will continue to hover below the resistance level of 3375, and the lower track line of the convergence triangle will support above 3300; then the CPI inflation data released today will be relatively important, and the market expects it to increase to 2.7% this time. Once the announced value is greater than or equal to 2.7%, then inflation will rise, which will weaken the interest rate cut and suppress the gold price; on the contrary, if the announced value is less than 2.7%, it does not meet the The market is expected to boost gold prices; if it is less than or equal to 2.4%, the probability of interest rate cuts will be increased, which will significantly boost gold prices;
Second, the 4-hour level of gold: today's focus is on the upper support of the lower middle track 3340 and the lower resistance of 3375 above, to see which side is effectively broken;
Third, the hourly level of gold: after stabilizing 3340 today, it will break through the early morning resistance level of 3351-52 and hit the 3365-66 line, so the overnight low bullishness will be successful; Currently it is running in a narrow range of 3365-3356, which means waiting for today's data; from a technical perspective, pay attention to the support of the middle track 3352 on the bottom. If it stabilizes, you can continue to be bullish. Pay attention to the resistance of 3374-75 on the top. Only when the big sun or continuous sun breaks through can new room for pull-up be opened; if the data is bearish and the middle track is not held downward, there is no rush to be bullish. Wait for the downward momentum to slow down, and a stop-loss signal will appear. If there are signs of sideways trading at the bottom, choose to layout low and long. Below 3340, there is still 3334 and 618 support, which is also the annual average. If it goes down again, it will give a good bottom speculation low. You can directly sell below 3310. The market will still repeatedly attack the resistance of 3365 and 3374 if it is stable; as long as it converges along the lower track of the daily triangle, the lows gradually move up, and every time it approaches the low, it is a good bottom speculation point, and there is basically a pull-up of 50-100 US dollars.
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Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
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Hey, everyone. I'm Yulia, a girl from Russia working as an analyst in New York, USA. I've been doing this job for 13 years. I have professional financial knowledge. I hope you like me.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.