After the non-farm data on Monday (September 9), the market's expectations for the Federal Reserve to cut interest rates by 50 basis points in September cooled down. The US dollar index rebounded after hitting the bottom, causing the gold price to fall below the 2,500 mark, and the short-term bearish signal of the gold price has increased. At present, the US Treasury yield has also rebounded, which puts the gold price at risk of further correction. Of course, the geopolitical situation and the prospect of interest rate cuts may still limit the breakthrough of the current gold market. On the technical level, from the daily chart, gold is still in a wide range of fluctuations. The key resistance level above is still the historical record high of $2,532, and the strong support below is the low of $2,473 reached last week. In terms of technical indicators, the short-term does not seem to be favorable for gold bulls, and there seems to be a sign of top divergence. Once the above-mentioned high-level fluctuation area of $2,473 falls below, it is necessary to be careful that gold will enter a period of decline and adjustment. Only by breaking through the record high of $2,532 can it continue to climb to a higher peak.
Gold closed flat with a cross K-line last week, and the daily line fell back after reaching a high, with pressure on the upper track of the range. In the short term, the wide range of 2530-2470 has not changed, and the non-agricultural data last Friday did not stimulate the break of the range. From the current market, the upward trend did not break 2530 and formed a fall, and it also did not break when it approached the four-hour lower line. It can be seen that the market has returned to the shock zone again. Whether it can break the shock zone of 2530-2470 depends on the CPI guidance on Wednesday. A wave of highs and falls on Friday highlighted the signal of strong bearishness. Although the current gold price is still running above the short-term moving average, and the short-term moving average also forms a short-term support in the 2485 area, it is obvious that the upward momentum has begun to show weakness. On the whole, the weekly line, the bears still have the advantage in the short term, and it is highly likely to continue to extend the lows. This week is expected to reach the 2470 area again.
The 4-hour gold chart has begun to contract and oscillate in the box range, which is also the parallel contraction range of Bollinger Bands. The upper track is 2530 and the lower track is 2470. The wide range is still relatively large. It is not expected to form a breakthrough at the beginning of the week. We need to focus this week. What we are paying attention to is the area around 2470 where the previous two double-pin bottoms were reached. As far as the weekly and daily closing conditions are concerned, the downward trend is obvious and it is expected to continue to bottom out. If the position cannot be changed to support it, then the profits of gold short positions will definitely fall sharply. The short-term operations within the day are centered around this range to sell high, sell low, and go long, and when it is close to the lower rail, combine the hourly chart pattern with short gong. On the whole, today's short-term operation of gold recommends rebounding mainly to high altitudes, supplemented by callbacks to lows and longs. The top short-term focus will be on the 2510-2515 first-line resistance, and the bottom short-term focus will be on the 2485-2480 first-line support.
Gold closed flat with a cross K-line last week, and the daily line fell back after reaching a high, with pressure on the upper track of the range. In the short term, the wide range of 2530-2470 has not changed, and the non-agricultural data last Friday did not stimulate the break of the range. From the current market, the upward trend did not break 2530 and formed a fall, and it also did not break when it approached the four-hour lower line. It can be seen that the market has returned to the shock zone again. Whether it can break the shock zone of 2530-2470 depends on the CPI guidance on Wednesday. A wave of highs and falls on Friday highlighted the signal of strong bearishness. Although the current gold price is still running above the short-term moving average, and the short-term moving average also forms a short-term support in the 2485 area, it is obvious that the upward momentum has begun to show weakness. On the whole, the weekly line, the bears still have the advantage in the short term, and it is highly likely to continue to extend the lows. This week is expected to reach the 2470 area again.
The 4-hour gold chart has begun to contract and oscillate in the box range, which is also the parallel contraction range of Bollinger Bands. The upper track is 2530 and the lower track is 2470. The wide range is still relatively large. It is not expected to form a breakthrough at the beginning of the week. We need to focus this week. What we are paying attention to is the area around 2470 where the previous two double-pin bottoms were reached. As far as the weekly and daily closing conditions are concerned, the downward trend is obvious and it is expected to continue to bottom out. If the position cannot be changed to support it, then the profits of gold short positions will definitely fall sharply. The short-term operations within the day are centered around this range to sell high, sell low, and go long, and when it is close to the lower rail, combine the hourly chart pattern with short gong. On the whole, today's short-term operation of gold recommends rebounding mainly to high altitudes, supplemented by callbacks to lows and longs. The top short-term focus will be on the 2510-2515 first-line resistance, and the bottom short-term focus will be on the 2485-2480 first-line support.
Trade active
Today the market is mainly volatile, operating in the range of 2485-2526.Trade active
Today the market is mainly volatile, operating in the range of 2485-2526.Trade active
Stable profit of 100%+ per week. If you want to get such a huge profit, you can contact me. No matter how much money you have, I can help you.Trade active
Gold is long in the short term, looking at the 2518-2520 area, and then short orders will be arranged after reaching itTrade active
2500 long gold, profit +110 points, click on my website and follow my tradingTrade active
Long and short two-way profits, profits are too easy for us professional traders, don’t rely on luck to make profits, if you want to make stable profits in the market, I am your best partner🤝Trade active
8k capital, 33k profit in three weeks, you can click on my website to check, this is my real trading record, if you want to get a huge profit, you can contact me immediatelyTrade active
8k capital, 33k profit in three weeks, you can click on my website to check, this is my real trading record, if you want to get a huge profit, you can contact me immediatelyTrade active
There is no volatility in the market for the time being. Take a break. I will continue to share trading strategies on my channel. I think it will be helpful to you.Trade active
There is no volatility in the market for the time being. Take a break. I will continue to share trading strategies on my channel. I think it will be helpful to you.Trade active
Today, gold is still focusing on the pressure of the previous high of $2531. If it does not break, you can short and look for a retracement. The primary target is $2510. After breaking through, look at $2500-2493. If it breaks up unexpectedly in the evening, the bulls can extend to around $2540 and you can go short again. The retracement target remains unchanged.Trade active
The US will announce the annual CPI rate in 40 minutes. Click on my website to get the trading strategy.Trade active
The news analysis is accurate, shorting gold makes another profit of +110 points, click on my website so that you can enjoy profits every dayTrade active
Today, both long and short sides make profit, and the profit exceeds 200 points. Click on my website, and your profit in a week will exceed 100%.Trade active
I have helped many members make huge profits in the market. You can click on my website to check it out. If you also want to make stable profits, you can contact me and I will help you.Trade active
I have helped many members make huge profits in the market. You can click on my website to check it out. If you also want to make stable profits, you can contact me and I will help you.Trade active
Trading is risky. If you don't have a plan for your trading, you can click on the website below, and we will help you trade with the most professional analysisTrade active
Gold is still rising strongly, don't short it for now, look for better trading opportunitiesTrade active
Gold bulls are rising higher and higher, without any pullback. It's Friday now, so there's no need to chase the rise. Slow rises are often followed by sharp declines, so don't chase the longs easily. Gold is a bit stagnant, short at 2579.Trade active
So far, the profit for this week has reached 120%, and it is expected to reach 150% by the end of today. If you also want to make huge profits every week, click on my website, it will be helpful to you.Trade active
Gold is still testing new highs, so in the short term, it is still mainly about falling back and doing long. Pay attention to the support in the 2575 area and the resistance in the 2590-2600 area.Trade active
Gold is still testing new highs, so in the short term, it is still mainly about falling back and doing long. Pay attention to the support in the 2575 area and the resistance in the 2590-2600 area.Update idea
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.