5.9 CPI is coming soon, gold is facing the risk of another callb

Cats like to eat fish, but cats can't swim. Fish like to eat earthworms, but they can't go ashore. God has given you many temptations, but he will not let you get them easily. If you want to achieve it, you have to fight for it yourself. Life is like a dandelion, seemingly free, but often involuntary. There are no ifs in life, only results. If you try your best and work hard, it will be fine.

On Monday, spot gold fluctuated upwards. It once rose to around the $2,030 mark in intraday trading, and then fell back to stand firmly above $2,020.

The U.S. dollar index first fell and then rose. Before the European market, it fell to the 101 mark, but recovered most of the lost ground during the US market. U.S. bond yields rose sharply. The two-year U.S. bond yield, which is more sensitive to the interest rate outlook, rose above 4%, closing at 4.001%; the 10-year U.S. bond yield rose to around 3.5%, closing at 3.507%.

Crude oil continued to rebound as fears of a U.S. recession eased and some traders believed a three-week losing streak driven by demand worries was overdone. WTI crude oil once rose to a high of $73.6 within the day.

The most important thing this week is the cpi data on Wednesday, so how the market trend goes before cpi is actually very critical.

It's not that we must pay attention to cpi data, of course, this is only second. The most important pre-cpi and post-cpi markets are definitely not in the same direction.

If it is said that the non-U.S. market went up before the CPI, then there is a high probability that the non-U.S. market will fall again after the CPI.

At present, gold has been in the process of rectifying and rebounding after hitting the 2000 mark last Friday.

This is obviously waiting for the arrival of cpi. If gold continues to maintain this slow upward trend, then there is a high probability that it will fall again after the CPI.

From the trend of 2080-2030, the position of 382 happens to be here in 2030, which is also the current high point.

If you can't even go up to 2030 at the 382 position, what about the recovery of the bulls, then it means that the next 2000 mark will be broken.

But the question now is, will 2030 be the high point of this wave of bulls?

I can't give you an accurate answer now, but based on what I see so far, I think it is very likely that gold will break through 2030 here.

If gold can't fall below 2018 today, then I think it will still go up, but whether it can break through 2030 depends on time.

The upper 50% position is around 2040, so I may focus on 2030-40 at the current upper high point.

So the next operation, if today's gold falls to around 2018 and stabilizes before breaking through 2030, then we can go long and look to 2030-40.

If it breaks through 2030 and reaches the 2030-40 range and falls, the long order will be cancelled.

The second is to go up to 2030-40 first, then we can directly enter the market to short in this range, and the defensive stop loss is 2050. The lower target first looks at 2010, and then it is around 1975.

Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩‍💻

Trade active:

gold as expected