MRKKYI

Gold, 1955 today's watershed

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Gold, yesterday's U.S. secondary decline to the bottom and then rose, the daily line in the positive, but after the reversal of the price of high horizontal, lost the momentum of the retreat, seems to have turned into a secondary back to rise, then today is the key.

On the one hand, Friday's big drop without a reversal, this pattern regardless of whether it is a rebound or a crossover, are looking to renew the fall once, the rebound is also looking at the shock. But yesterday's market in the day slow fall, the U.S. market rose, if the day did not catch the very weak, the U.S. market in the sale, there is no room for profit, but just said, no matter what, the policy can still be implemented.

And the biggest worry is still yesterday's rally fulfilled the bottom of the second test rise, if this is really the case, the missed opportunity in the medium term, but whether it can be the second rise, today is the key, focusing on whether to take strong sun in a row. Once the continuous strong sun, the Friday decline to swallow up, then naturally turn strong.

So, today also relates to the trend delineation.

If today's retreat turns negative, then the probability of breaking the bottom later is still relatively large, but today in the strong positive rise, Friday's fall must be a washout, the second rise to come.

And for the current price, the participation is still not high.

On the one hand, there was no retracement after yesterday's bottoming out in the U.S., it has been a crossover, but this crossover is a small positive closing, and not a retracement closing, then the probability of a retracement in the morning is high, but because of the resistance, the profit from selling may not be as large. But you can take one sell to trade.

Friday's hourly renewal level in 1967-8 a line, which is today's key resistance, worry about the market is also just a punch, a false alarm.

And for the retracement to do BUY, be sure to pay attention to the European market, which has two points:

1, a strong close, this form of morning correction, the market continues, must take the highs in the European market, or look forward to the U.S. market up is difficult.

2, the retracement of the position is not easy too deep, if the retracement of the magnitude is too large, then it is a shock, and the focus is still to see whether the European market can power.

Therefore, the operation, after yesterday's upward push back to the low in 1955-6 line, the time point of the European market.

The day concern 1955-54 support position. 1965 resistance position.

Focus on the European session. If the European market does not power up, has been suppressed in yesterday's high below, then the U.S. market transfer down the probability of great, the need to sell behind.

Therefore, the intra-day retracement can be taken BUY. Note: If the intra-day suppression in the consideration of sell. And the U.S. time to keep continue to suppress, then it is necessary to sell once in the U.S. time.

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