The Fed’s policy is unclear, beware of a plunge in gold prices!

From the 3120 area to 3320, there is just 200 US dollars of space, and it continues to sweep around the large range of the weekly level (200-300 US dollars), thus forming a large channel range sweep.

Acceleration point 3284, sprint to a new high of 3500, confirm the high point and start to fall

The first support point is 3260, support and pull up 110 US dollars to find 3370, and fall 168 US dollars for the second time to break the low

The second support point is 3202, support and pull up to find 233 US dollars to find 3435, and fall 315 US dollars for the second time to break the low

The third support point is 3121-3120 area, support and pull up to find the current 3320 area (temporarily 200 US dollars)

So, two positions are used as references, one is 3320 (an increase of 200 US dollars), and the other is 3370 (an increase of 250 US dollars)

Temporarily set these two positions, and pay attention to the top and bottom conversion below The position of 3250 and the double-line position are used as the boundary. If it falls back below the double-line in the later period, it will look for the lower track of the channel.

The distance between the two pressure points is 50 US dollars, which is just close to the range of space switching this week. It sweeps from the range of 3250-3150 and switches upward after breaking through. The same range is about 50 US dollars.

So, for today's market:

If the first pressure point of 3320 is suppressed and 50 US dollars are lowered, the 3270 area is to be found, and then the gains and losses of the top and bottom conversion position 3250 are to be paid attention to.

If it continues to rise and break the high, the subsequent attention will be the second pressure point in the 3370 area. If the suppression is successful here, it will still maintain the sweep of the channel range below.
Therefore, for today's gold, the price bottomed out and rebounded close to the upper track area of the channel line. Pay attention to the two pressure points of 3320 and 3370, with a space range of 50 US dollars, and switch the space successively. If it switches further upward, it will be 3420, and if it switches further downward, it will be 3270.

Previously, the price continued to sweep around the 3150-3250 area. At the beginning of this week, it repeatedly swept around the 3250-3200 range with 3250 as the suppression. Yesterday, Tuesday, the US market broke through 3250 and rose by more than 30 US dollars in the short term. After the rise, it directly remained at a high level. Today, Wednesday, the Asian market price continued to rise in the short term and rushed to the 3315 area, and fell sharply by 30 US dollars to find 3285, and continued to rise and break the high to the 3320 area. If it is strong, it will directly break through 3320 and further rise to find 3370. If it is a sweep, then the 3320 position will be tested repeatedly, and the pressure will fall back. This time the range is considered to be 50 US dollars, at least 30 US dollars. The space budget is around 50 US dollars, which is also the difficulty of the recent market. The start is 30-50 US dollars. The process is not continued, and there is no special signal. Before the result comes out, it depends on blind selection. It must be firm, flexible, and decisive! The price is currently hovering in the 3318-3320 area. The first pressure option is here. We choose to use this as pressure to hold short orders. If the pressure is successful, we will look for 3300-3190, followed by 3170-3160. Otherwise, we will focus on the next pressure option of 3370, which is close to the upper pressure rail of the channel. Be careful of new turning points.

TaylorLocke

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TaylorLocke

🏆 Gold Signal
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Join me for Daily Signals and free Telegram:
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