Gold: Important trading strategies for the US market hours
Gold yesterday, although the shock rebound, the evening by the impact of data had also been tested to 1960 near, but such a move does not meet its own technical structure needs, and then the market back to adjust. In the early hours of the morning, the Federal Reserve suspended interest rate hikes as expected, but also gave a hint of a possible 50 basis point hike in the year, so gold expanded the fall space, down to 1940 near the daily close with a long upper shadow of the negative star line.
The Fed's hawkish tone is the main cause of gold's decline, but the daily structure, gold down is its own technical trend needs, if not down, it is difficult to have space above. And gold again to start the downside adjustment, the release of the accumulation of short adjustment momentum, the late market operation may also be more healthy.
Gold has now fallen below 1940 short term trend support, in accordance with previous structural expectations, below or may go again to find the lower edge of the range support near 1930, or even near 1920. And if you zoom in on the cycle, to the lower edge of the triangle 1940 fall to measure, below or may have another $40-50 space, that is, the possibility of retreat to 1900-1890, so this position can be seen as the ultimate goal of the current wave of gold pullback adjustment.
Combined with the hourly chart trend, this morning gold again down to adjust, release the early morning Fed hawkish tone brought about by the emotional impact, the short-term lower can be concerned about the previous low 1932-30 near the support test, but the downward trend has formed, below 1920 near may only have a certain support role, and may also be only a temporary role, if the recent fundamentals no positive factors to improve, then Gold short-term fall to 1900 near are possible. And above the day is concerned about the pressure test near 1940, as long as the day does not return to this level above the stationary, then the downward adjustment will probably have a continuation.
Gold operation strategy: rebound 1938-1940 near short, defending 1945 on, the target down to 1930-1920;
The Fed's hawkish tone is the main cause of gold's decline, but the daily structure, gold down is its own technical trend needs, if not down, it is difficult to have space above. And gold again to start the downside adjustment, the release of the accumulation of short adjustment momentum, the late market operation may also be more healthy.
Gold has now fallen below 1940 short term trend support, in accordance with previous structural expectations, below or may go again to find the lower edge of the range support near 1930, or even near 1920. And if you zoom in on the cycle, to the lower edge of the triangle 1940 fall to measure, below or may have another $40-50 space, that is, the possibility of retreat to 1900-1890, so this position can be seen as the ultimate goal of the current wave of gold pullback adjustment.
Combined with the hourly chart trend, this morning gold again down to adjust, release the early morning Fed hawkish tone brought about by the emotional impact, the short-term lower can be concerned about the previous low 1932-30 near the support test, but the downward trend has formed, below 1920 near may only have a certain support role, and may also be only a temporary role, if the recent fundamentals no positive factors to improve, then Gold short-term fall to 1900 near are possible. And above the day is concerned about the pressure test near 1940, as long as the day does not return to this level above the stationary, then the downward adjustment will probably have a continuation.
Gold operation strategy: rebound 1938-1940 near short, defending 1945 on, the target down to 1930-1920;
