Gold: Bullish but cautious Notice 1900
On Friday, despite the negative impact of non-farm payrolls, gold prices rose rapidly. In fact, the safe-haven demand for gold is still dominant. Firstly, the bank debt crisis has spread and caused market panic. The sharp decline in the stock price of Silicon Valley Bank's parent company SVB Financial Group has a much stronger impact, as concerns about credit quality and counterparty risk suddenly emerged. Bank stocks led the global stock market downturn, and some banks were even shut down by regulatory authorities. This is the largest bank collapse case in the United States since the collapse of Washington Mutual Bank in 2008.
This creates a new bullish momentum for the gold market. As the bank crisis expands and many banks' stock prices surge, it reminds me of the 2008 subprime crisis and the bankruptcy of Lehman Brothers, which led to a $140 rise in gold prices as a safe-haven asset. However, after claiming that liquidity was sufficient, gold plummeted by $90. But this did not ultimately prevent the bank from collapsing, and gold once again rose for several weeks as a safe-haven asset. This bank crisis is also a signal because the Federal Reserve's interest rate hike ultimately suppresses other economic recoveries while plundering global wealth. However, ignoring one problem, the global US dollar inflows into banks with 5% returns. As a result, banks will lose money if they do not have loan interest income to pay interest.
The problem is that if interest rates continue to rise, the collapse of the financial system itself will be the most frightening. Therefore, the expected decline in inflation data in the later period does not support too much interest rate hikes. How to save banks and how to raise the debt ceiling requires continuous money printing, which the world pays for. Therefore, when the demand for safe-haven assets arises, gold will rise in the market first. This is beyond technical and fundamental analysis, and must be experienced to understand. However, there is little hope for adjustment. Often, the transformation of the main force from long to short is fierce, and it will not give you a chance to exit. For example, on Friday, despite the negative impact of non-farm payrolls, the trend was bearish, and many people were short on the rebound. However, the main force directly pushed up $30 to wash out the shorts, indicating that the short-term longs once again control the market. The market panic sentiment is still present, so gold continues to rise in popularity.
Gold hit bottom and rebounded strongly last week, with two consecutive trading days of decline, a bottom shock on Wednesday, and continued upward momentum on Thursday and Friday. Yesterday's weekly closing price indicates that the price has changed from weak to strong. The daily line is continuously bullish, and the solid candlestick is gradually increasing. It is expected that the bullish trend will continue this week. The current 4-hour level has formed a double bottom support rebound, and the price is continuously bullish. The Bollinger band is upwardly opened, the MACD golden cross is upward, and the red momentum column continues to increase. The indicators show that the current price is in a strong bullish trend, so the main focus should continue to be long. However, the current US dollar is about to form a triple bottom support, and gold may undergo a correction. In terms of operation, try to buy low on the dip. In the short term, pay attention to the support near 1873. Breaking through 1890 is a signal to continue to buy long. Currently, gold is at a high level, so be particularly careful about controlling your position when entering the market.
The market is changing fast, so stay tuned
This creates a new bullish momentum for the gold market. As the bank crisis expands and many banks' stock prices surge, it reminds me of the 2008 subprime crisis and the bankruptcy of Lehman Brothers, which led to a $140 rise in gold prices as a safe-haven asset. However, after claiming that liquidity was sufficient, gold plummeted by $90. But this did not ultimately prevent the bank from collapsing, and gold once again rose for several weeks as a safe-haven asset. This bank crisis is also a signal because the Federal Reserve's interest rate hike ultimately suppresses other economic recoveries while plundering global wealth. However, ignoring one problem, the global US dollar inflows into banks with 5% returns. As a result, banks will lose money if they do not have loan interest income to pay interest.
The problem is that if interest rates continue to rise, the collapse of the financial system itself will be the most frightening. Therefore, the expected decline in inflation data in the later period does not support too much interest rate hikes. How to save banks and how to raise the debt ceiling requires continuous money printing, which the world pays for. Therefore, when the demand for safe-haven assets arises, gold will rise in the market first. This is beyond technical and fundamental analysis, and must be experienced to understand. However, there is little hope for adjustment. Often, the transformation of the main force from long to short is fierce, and it will not give you a chance to exit. For example, on Friday, despite the negative impact of non-farm payrolls, the trend was bearish, and many people were short on the rebound. However, the main force directly pushed up $30 to wash out the shorts, indicating that the short-term longs once again control the market. The market panic sentiment is still present, so gold continues to rise in popularity.
Gold hit bottom and rebounded strongly last week, with two consecutive trading days of decline, a bottom shock on Wednesday, and continued upward momentum on Thursday and Friday. Yesterday's weekly closing price indicates that the price has changed from weak to strong. The daily line is continuously bullish, and the solid candlestick is gradually increasing. It is expected that the bullish trend will continue this week. The current 4-hour level has formed a double bottom support rebound, and the price is continuously bullish. The Bollinger band is upwardly opened, the MACD golden cross is upward, and the red momentum column continues to increase. The indicators show that the current price is in a strong bullish trend, so the main focus should continue to be long. However, the current US dollar is about to form a triple bottom support, and gold may undergo a correction. In terms of operation, try to buy low on the dip. In the short term, pay attention to the support near 1873. Breaking through 1890 is a signal to continue to buy long. Currently, gold is at a high level, so be particularly careful about controlling your position when entering the market.
The market is changing fast, so stay tuned
Comment:
Break through 1900 , beautiful
Comment:
Gold is rising again, what is everyone's position, and those with heavy positions can lighten their positions
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