The US inflation data for April released key signals: the annual rate of core CPI fell to 2.8%, and the monthly rate of 0.2% was also lower than expected, indicating that inflation continued to fall. After the data was released, the US dollar index weakened rapidly, and the market's expectations for the Fed's interest rate cut this year increased, and gold once surged. However, affected by the uncertainty of the global tariff situation, some funds chose to take profits, causing the gold price to fall under pressure in the short term. The gold price fluctuated and converged above the key support level of $3,200. The daily Bollinger Bands closed, and the upper pressure was at 3275-3300. If it breaks through 3275, it is expected to test the gap pressure; the lower 3220 forms multiple defense lines. If the 10-day moving average is stable at the 4-hour level, the rebound target can be seen in the 3275-3280 range. In the medium term, maintain the idea of buying on dips, focusing on policy trends and gap filling.
Gold recommendation: Buy on the 3230-3235 range, stop loss 7 points, target 3270
Gold recommendation: Buy on the 3230-3235 range, stop loss 7 points, target 3270
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t.me/+_j0rbFDBRyY5Njg0
100% accurate trading signals
100% accurate trading signals
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.