Gold rally nearing its end, beware of bearish attack
The Federal Reserve has been raising interest rates over the past year, and regardless of the level of those rate hikes, they are now approaching their end. During this year, how much of the global US dollar has returned to the United States, and how much capital was directed to American banks during the Ukraine crisis, when Switzerland's neutrality failed? Despite the prolonged interest rate hikes, inflation remains high, so reaping wealth is temporarily difficult.
This is why bank failures are occurring. Regardless, these banks are still making money, because their assets are greater than the insurance the country needs to bear, while also causing financial collapse and stock market declines in other countries, completing the final wave of wealth harvesting.
Now, the Federal Reserve is gradually slowing its rate hikes, and may even start cutting rates to provide liquidity support for banks. In fact, every time a crisis is resolved, it is about harvesting global wealth. After the world pays for it, they continue to loosen their monetary policies, print US dollars, and circulate them globally, until the economy improves, and then use various means to plunder wealth!
Currently, the market sentiment is rising, and we cannot rely solely on technical analysis to find support and resistance, as these are insignificant in the face of the Federal Reserve and bank failures. What I can tell you is that everything has its limits. When everyone has the same view of a trend, it is the time when the trend is about to end.
We cannot be sure where gold will rise to, but it will definitely fall back to fill the gap at 1867 later on, and the more space there is, the better for them to reap more wealth. They are probably not satisfied with the current space of less than $50, and it is very likely that they will continue to push upward.
Therefore, today we need to focus on the areas near 1919, 1931, and 1958-1967, because only by opening up a $100 space and letting people forget about the position of 1867, can we have a chance for sudden changes, such as a $100 drop in one day.
The recent trend in the market is that you can go long when the price drops by $15-20 from a high point, such as going long when the price drops from the highest point of 1915 to around 1900-1895. This is a relatively safe way to conduct long trades.
If gold rises by $40-60 today, we must be alert for a sudden attack by the bears!
Of course, they may also use tomorrow's data to achieve their goals.
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