4/1 Gold shorts still have hope.
The recent market price of gold is mainly dominated by news. There are several interpretations about the news:
The current decline in U.S. bond yields may only be the trigger for this sharp rise in gold, and the bull crowding caused by gold's recent surge may be the culprit. In fact, in the final analysis, it is also due to the malicious behavior of market institutions. After all, these rises are unreasonable in my eyes. After all, the overall market sentiment is dominated by shorts, and the reason for bulls is that everyone knows that institutions are smashing the market, and technical and news aspects are useless. In this regard, for next week's market, we still need to guard against malicious control by bulls. The recent long profit-taking pressure on gold and silver may be released at once, and the market outlook is still bullish for gold.
Reasons for gold’s rise: The fundamental factors currently supporting the gold bull market have not disappeared. The rise in gold prices since the spring has been driven by falling interest rates, steadily rising inflation expectations and a falling dollar. At present, although real interest rates have bottomed out, they remain at historically low levels. What's more, from a longer time perspective, Friday's rise is nothing. Gold's upward move suggests investors may have found a range of value after several consecutive sessions of gains. However, it may take time for the market to regain confidence to help gold break out of its highs. In this case, the psychological price level of $2,270 will appear to be somewhat important. However, once it breaks above the annual Bollinger Band track, it will not be surprising for gold to rise to $2,300.
Why gold fell: Based on the international spot gold price of $2,169 on March 15, it increased 5.4% from $2,058 on the first trading day of this year. If you take a longer view, the price on March 15 rose by 13% compared with the same period last year. The excessive rise made gold fall into serious overbought. From a technical point of view, gold still needs to retreat, but the global market continues to be loose. And against the backdrop of an economic downturn, Powell reiterated the Fed's stance that it is in no rush to cut interest rates, saying that inflation data were basically in line with expectations. Therefore, the news of the Fed's interest rate cut gave a considerable number of investors a reason to sell.
Prediction of opening trend at the beginning of the week:
It rose from 1810 to 2236, running a bull market of 426 US dollars. After the correction from 2144 to 1984, it was supported above the moving average in mid-February and reversed strongly. I thought it would fluctuate at a low level and recover for a period of time, but in the end the market turned out to be unexpectedly strong. The strong rise in the early stage and the strong positive line of $76 last week, as well as the strong positive line of $49 last Thursday, the market continues to reach new highs, which is a relay form of a strong market.
Pressure support: focus on 2260-2265 at the top and 2200 and 2187-2157 at the bottom.
Operation idea for next week: It is recommended to buy in the 2220-2225 area below, stop loss at 2212, look at 2260-2270, you can reverse the mid-line short layout, stop loss at 2285, and look at 2200-2170 below.
The current decline in U.S. bond yields may only be the trigger for this sharp rise in gold, and the bull crowding caused by gold's recent surge may be the culprit. In fact, in the final analysis, it is also due to the malicious behavior of market institutions. After all, these rises are unreasonable in my eyes. After all, the overall market sentiment is dominated by shorts, and the reason for bulls is that everyone knows that institutions are smashing the market, and technical and news aspects are useless. In this regard, for next week's market, we still need to guard against malicious control by bulls. The recent long profit-taking pressure on gold and silver may be released at once, and the market outlook is still bullish for gold.
Reasons for gold’s rise: The fundamental factors currently supporting the gold bull market have not disappeared. The rise in gold prices since the spring has been driven by falling interest rates, steadily rising inflation expectations and a falling dollar. At present, although real interest rates have bottomed out, they remain at historically low levels. What's more, from a longer time perspective, Friday's rise is nothing. Gold's upward move suggests investors may have found a range of value after several consecutive sessions of gains. However, it may take time for the market to regain confidence to help gold break out of its highs. In this case, the psychological price level of $2,270 will appear to be somewhat important. However, once it breaks above the annual Bollinger Band track, it will not be surprising for gold to rise to $2,300.
Why gold fell: Based on the international spot gold price of $2,169 on March 15, it increased 5.4% from $2,058 on the first trading day of this year. If you take a longer view, the price on March 15 rose by 13% compared with the same period last year. The excessive rise made gold fall into serious overbought. From a technical point of view, gold still needs to retreat, but the global market continues to be loose. And against the backdrop of an economic downturn, Powell reiterated the Fed's stance that it is in no rush to cut interest rates, saying that inflation data were basically in line with expectations. Therefore, the news of the Fed's interest rate cut gave a considerable number of investors a reason to sell.
Prediction of opening trend at the beginning of the week:
It rose from 1810 to 2236, running a bull market of 426 US dollars. After the correction from 2144 to 1984, it was supported above the moving average in mid-February and reversed strongly. I thought it would fluctuate at a low level and recover for a period of time, but in the end the market turned out to be unexpectedly strong. The strong rise in the early stage and the strong positive line of $76 last week, as well as the strong positive line of $49 last Thursday, the market continues to reach new highs, which is a relay form of a strong market.
Pressure support: focus on 2260-2265 at the top and 2200 and 2187-2157 at the bottom.
Operation idea for next week: It is recommended to buy in the 2220-2225 area below, stop loss at 2212, look at 2260-2270, you can reverse the mid-line short layout, stop loss at 2285, and look at 2200-2170 below.
Trade active:
Oh ho ho, the first stage of profit taking has been reached.
Trade active:
The second section of TP has arrived, brothers
Trade active:
Ready to start trading