Yesterday, Federal Reserve Chairman Powell spoke publicly again, saying that Fed officials are not sure that interest rates are high enough to end the inflation war, and that the help they can get in expecting improved supplies of goods, services, and labor to reduce price pressures may be nearing the end.
After Powell's speech, traders postponed their bets on the timing of the Fed's first interest rate cut from May to June next year.This has also boosted the trend of the US dollar and US bonds
Hawkish voices continue to appear within the Fed. Richmond Fed Chairman Balkin said that although “real progress” has been made on inflation, it is not yet clear whether the Fed needs to continue to raise policy interest rates to complete its work. He is not as optimistic about the rate of inflation decline as some others.
O'neal Pace, acting president of the St. Louis Fed, said he did not want to rule out the possibility of further interest rate increases if necessary.
(These all suggest the possibility of continued interest rate increases in the future)
Yesterday, gold was the same as I predicted. The data on unemployment benefits did not make gold fall below 1944, so it began to rebound, reaching a peak of 1965.
On the 1H chart, the downtrend line has been broken. Pay attention to the support situation after today's decline. If it does not fall below 1950, you can continue to watch the rebound continue.
We need to pay attention to the upper resistance point range:
1968-1972
1975-1980
Pay attention to the range of support points below:
1950-1953
1941-1945
1933-1938
So you can choose to buy around 1945-1952, observe the strength of the rebound, strictly set the stop loss, and gradually buy according to the funds, so that your success rate will be greatly increased
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Gold fell below yesterday's low. If it cannot break through 1950, it can be judged to be a weak rebound in the decline.
