Xauusd:Is risk aversion beginning to decrease?

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Gold Spot / U.S. Dollar (FX:XAUUSD)

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FX:XAUUSD Gold Spot / U.S. Dollar

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Has gold adapted to the risk aversion of the Israeli-Palestinian conflict?

The future of the Israeli-Palestinian war is still unpredictable, but as the market adapts to the changes in the conflict in the Middle East, gold may lose its safe-haven appeal.

Yesterday, gold was blocked by 2010 for two consecutive times and fell below the key dividing point of 1980.

At present, gold is near 1978. Next, pay attention to the support of the 1962 trend point. Today, you need to pay attention to the US ADP employment data.

After Tuesday's sharp drop, two points can be made clear. First, gold's risk aversion has weakened. As mentioned earlier, this wave of gold's surge is due to the geopolitical situation and the impact of risk aversion. As long as the geopolitical situation stabilizes and risk aversion weakens, gold will naturally come out of the sharp drop, but now the Palestinian-Israeli conflict has not completely eased, so it is necessary to prevent gold's risk aversion from heating up at any time.Second, gold fell sharply on Tuesday, and two technical points appeared on the technical side. One is that gold formed a double top at the high point of 2009, with a clear top pattern, and the other is that the gold daily line fell below the 5-day line and the 10-day line at the high point.

We need to pay attention to the upper resistance point range:
2002-2010
1992-1998
1980-1985
Pay attention to the range of support points below:
1970-1975
1962-1968

Today you can still sell in the above resistance range, and manage your position based on your funds to increase your success rate

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Gold needs to observe the resistance of 1990

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