The focus of the market this week will be the US PPI data released on Tuesday, followed by the CPI data on Wednesday. Consumer prices came in higher than expected in the first quarter, suggesting the Federal Reserve may cut interest rates less often this year. Then, job growth in April was weaker than expected, leading investors to rekindle bets on two rate cuts of 25 basis points each this year, but that view depends largely on softening inflation and awaits more news from the market. . In addition, Federal Reserve Chairman Powell and European Central Bank Governing Council Member Knott jointly attended a meeting and delivered a speech on Tuesday, which also needs to be focused on.
Yesterday, gold started to fall from 2364, reaching the lowest level near 2332. With this trend, unless you sell from the beginning, it will be difficult to follow the trend. If you are not an aggressive trader, it will be difficult to trade yesterday. Therefore, during yesterday's decline, I No suitable opportunity found
After yesterday's decline, we can confirm that the high point of this cycle is 2378, which is difficult to break. However, if the Bollinger Band does not break, it may also fluctuate at a high level. Therefore, there is no absolute long-short trend.
Today’s key support point is 2330. If it cannot fall below 2330, I think it is likely to continue to rebound. The upper resistance is around 2350 and 2365.
Today you can try to buy near 2330-2335, SL: 2326, or wait for the first resistance point 2350 to sell, use small lot, or wait for 2365 to sell, and make reasonable arrangements according to your own funds
The above strategies are for your reference, but the market changes quickly, and you need to change your strategies in real time according to the trend, so that your success rate will increase.
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Comment:
Buying near 2335 will also make good profits
