Gold can be described as two days of ice and fire, the weekend Powell speech is still lingering, gold directly hit a record on Monday, as high as 2144.
Due to Powell's dovish speech in the early hours of Saturday morning, the market has become more certain about the expectation of the peak of the US Reserve rate hike, and has deepened the expectation of interest rate cuts beginning next year. So buy the expected to sell the fact, gold yesterday morning opened directly showed, but yesterday morning rose, then directly opened the negative fall situation, the lowest hit 20201 line, a one-day drop of up to 124 dollars, all the support below basically did not play a role, directly below the trend line support. This time, the multi-idling exchange is very urgent, the daily line directly large Yin close long lead, the price back to the short-term average support, meaning that the gold stage bottoming signal appeared, yesterday's surge fell first out of the market, today's volatility may not be too large, first look at the bearish adjustment.
This morning took the rebound correction, above the focus on 2050 to 20531 line pressure to look bearish, look at the 2020 low point break, below the support in 2011 to 2013 line, touch can be considered more.
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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.