At present, gold is higher for the third consecutive trading day. Because yesterday's US CPI data well supported the expectation that the Fed's interest rate hike cycle may be nearing its end, the decline in US Treasury yields and the weakening of the US dollar have supported gold prices. Although gold prices have been supported to rise, intraday technical signals indicate that gold prices are approaching the previous high, the upward momentum has slowed.
Gold is currently in a pattern of high volatility and rightward movement at the daily line level. This is a typical time-for-space pattern, and the long-term pattern in the general direction of gold has not changed.However, for the short-term level, the top of gold is under certain pressure, and in addition to the impact of news and data, the recent rebound in gold prices is not extremely strong, so there is still a demand for volatility in the short-term. Once the momentum is completed, it will be a new round of large long-term market start.
In summary, gold as a whole still maintains a bullish pattern, but there is still a demand for volatility in the short term.Therefore, in terms of operation, long positions at low levels are mainly used, supplemented by short positions at high levels.
In summary, gold as a whole still maintains a bullish pattern, but there is still a demand for volatility in the short term.Therefore, in terms of operation, long positions at low levels are mainly used, supplemented by short positions at high levels.
