US President Trump said he had no intention of firing Fed Chairman Powell. Affected by this, the US dollar soared in the short term and spot gold plummeted dramatically. This remark marks a huge change in Trump's attitude. He has recently stepped up his criticism of Powell and refused to rule out the possibility of taking the unprecedented step of firing Powell.
Gold technical analysis: This wave of gold correction is still continuing. The market has actually warned about today's pullback. After all, yesterday's closing line was a big negative line, so there must be a continuation in the trend of gold. Moreover, after gold rose to 3500 yesterday, the trend weakened. The market fell all the way and broke through the 3400 mark and 3300 mark, and fell to the lowest level of 3290! To be honest, this round of decline is still quite strong. After breaking the continuous positive, the market ushered in the suppression of the market pullback, and at present, there is still a trend of continuation!
In terms of short-term operation ideas for gold, it is recommended to sell short. The short-term focus on the upper side is 3320-3330 resistance, and the short-term focus on the lower side is 3285-3245 support.
Gold technical analysis: This wave of gold correction is still continuing. The market has actually warned about today's pullback. After all, yesterday's closing line was a big negative line, so there must be a continuation in the trend of gold. Moreover, after gold rose to 3500 yesterday, the trend weakened. The market fell all the way and broke through the 3400 mark and 3300 mark, and fell to the lowest level of 3290! To be honest, this round of decline is still quite strong. After breaking the continuous positive, the market ushered in the suppression of the market pullback, and at present, there is still a trend of continuation!
In terms of short-term operation ideas for gold, it is recommended to sell short. The short-term focus on the upper side is 3320-3330 resistance, and the short-term focus on the lower side is 3285-3245 support.
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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.