The volatility range of gold is getting smaller and smaller, but gold still has no choice of direction. Are bullish people waiting for Israeli tanks to enter Gaza?The escalation of the situation will inevitably drive the price of gold to rise again. For bearish people, gold is already approaching 2000. It is necessary to know that the long-term maintenance of high interest rates in the United States is the main line that has been suppressing the price of gold.If this situation does not change, it will be difficult to reverse the logic of bearish gold in the medium term.
Yesterday's maximum range was 1962-1982, but the edge of the trend line has been around 1970. At present, it has not fallen below the upper trend line, which means that gold is still rising strongly. Observe the key suppression point of 1982.
We need to pay attention to the upper resistance point range:
1978-1982
1985-1990
1995-2000
Pay attention to the range of support points below:
1970-1973
1962-1966
1950-1955
we can now wait for the direction of gold and follow the trend of trading, so that your success rate will be greatly increased
You need to observe the key points of 1950 this week. If it falls below 1950, there may be a lot of room for gold to fall.
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Gold is still subject to the resistance of 1978-1982, and now it has reached near 1975, and the support point on the upper edge of the trend is near 1973, and the range is getting smaller and smaller
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Isn't gold ready to choose the direction now?
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Observe the support of 1970
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Has fallen below 1970, observe the support strength of the previous low of 1963, if the trend reverses, it may reach the third support range of 1950-1955
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As I expected, gold reached the 1950-1955 range
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Waiting for the trend to be obvious
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1950-1955 is an important support area, now the trend has reversed, you can observe the resistance point of the daily line 1967
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Just arrived near 1967, observe whether it will break through 1967-1970 again
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If gold cannot break through 1967-1970, it is more likely to fall tomorrow
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Today's forecast is completely correct
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Will gold continue to fall like oil?
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If gold is not stimulated by the war, the possibility of falling tomorrow will greatly increase
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Gold returns to 1970 again, if it breaks through, it will continue to linger tomorrow
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The Israeli-Palestinian war is at risk of escalation again. Rockets attacked the Assad air base, which caused gold to rise again.
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The escalation of the war has caused gold to rise again, but it is still blocked on the upper edge of the trend line VWAP, and there is currently no breakthrough.
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