Pay attention to the short side of 1880 today

In terms of gold, gold was consolidating around the low level below 1830 in early October. It has been weakly consolidating for a long time without breaking the low, and the four-hour indicator has broken the low and the price has diverged. Therefore, counter-pushing adjustments are imperative, especially the non-agricultural data released last Friday. In fact, It was announced that non-agricultural employment increased by 336,000 people, much higher than the previous value of 187,000 and the expected 170,000. Gold bucked the trend and rose in the sun. The closing day strengthened the confidence in bullish adjustments. The operating idea is to increase all the way. The Palestinian-Israeli conflict broke out over the weekend, and the price jumped sharply in early trading on Monday. The risk-aversion stimulus was only a catalyst for gold's rise, but it was actually a technical counter-adjustment.



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So the question is, where is the top of the counter-draw? First of all, we must understand that the rise in risk aversion in the Palestinian-Israeli conflict has boosted the rise of gold. After all, the regional influence is limited, and the continued support of risk aversion is also limited. Moreover, the gap in military strength between Palestine and Israel is very large. In addition, the United States has sent an aircraft carrier fleet and various military aids to Israel. The military strength of both sides is overwhelming. It is unlikely that the Palestinian-Israeli conflict will soon subside and escalate to a crisis in the Middle East. At the same time, it has been nearly two years since the war between Russia and Ukraine broke out, and the market has actually become less sensitive to conflicts, so risk aversion only supports gold in the short term. The real long-term impact on gold is the global economic situation and the Fed's attitude towards monetary policy. Maintaining high interest rates for a long time to support the US dollar will definitely suppress gold.



From a technical point of view, gold's continuous counter-draw has now reached below the key suppression area of 1880. This is the second opening of the double-top suppression at the end of September. It also fell from 1947 to 1810 and the 50% position of the golden section line has reached the daily line. The middle rail is suppressed, so you can rely on the short position today. It is not yet certain whether this position has reached a peak. If there is pressure today and there is no breakthrough in the next two to three days or the continuity of the breakthrough is poor, it is more likely that the price will peak. Then today’s fall will focus on the 1867-68 watershed. If it falls below the 1867-68 watershed, it is more likely to fall back and adjust within the day.


Gold: 1879-80 short, loss 1886, target 1867-68, if it falls below 1867, it can be shorted twice

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Perfectly reaching the take-profit position