Xu Bohong:10.22Analysis of the latest market situation of gold and prediction of future price trends of gold

Golden News:
　　
Schumer, the minority leader of the Democratic Party in the United States Senate, stated that in the Republican Party's5000There are too many people not covered in the billion yuan stimulus plan. Pelosi said that it is possible to reach an agreement with Nuqin on the stimulus plan to deal with the impact of the COVID-19 epidemic. The two plan to have another dialogue tomorrow, but may not be able to catch up11month3Recently, it was passed by both houses of Congress. White House Chief of Staff Meadows stated that the Trump administration is seeking1.9The trillion dollar rescue bill aims to achieve48Reached an agreement within hours. Due to Tuesday's speeches by US President Trump and House Speaker Pelosi boosting hopes for a large-scale fiscal stimulus package, some traders have increased their bets on higher risk currencies. And this provided some upward momentum for gold prices on Wednesday, with gold prices reaching a peak of over a week1931.38dollar/ounce.
　　
Federal Reserve Governor Brenner said on Wednesday that although the US economy recovered "heartily" from the initial impact of the COVID-19 epidemic, the recovery was still uneven and uncertain, and sustained support was needed to ensure the breadth and sustainability of the recovery.
　　
Technical aspect of gold: Gold prices opened yesterday at1908.42dollar/Ounces, open high in the short range, gold prices rise high, in the European session1914-1922The range has operated on a volatile box, and during the US market period, the bullish pattern of gold continued to be strong. Gold continued to rise, reaching its highest point last week1931Nearby, followed by a decline, in1919Support level consolidation, final closing at1924.46dollar/Ounces. The daily closing is bullish, with high prices breaking through the previous high and low prices not breaking through the previous low, showing an upward trend. The moving average system shows signs of stickiness, and gold prices have also shown a wedge-shaped upward trend. In terms of resistance levels above, we first focus on1933The position is also the highest point of this wedge-shaped oscillation, and then we need to test the high point of last month's gold price oscillation platform1973Horizontal resistance level.
　　
As shown in the figure for four hours, gold is present in9month24Daily contact1848The position has stabilized and started to rise. There have been three major increases, with the respective increase ranges being1848-1921; Then there is1972-1933Finally, at the current stage1881-1931These are the three irregular wedge-shaped rises. From this pattern, we can see that the upward momentum has not increased. If the rise of gold ends today, it is highly likely that the gold price will weaken. Then we calculate the bullish and bearish divide in this wave of gains1907dollar/Ounces. Overall, Xu Bohong believes that gold's rise yesterday broke through the recent volatile box resistance level1914Position, expected support for future retracement. Today's operation is mainly focused on retracement with multiple orders, with attention from above1933-1942dollar/Ounces, support attention below1910-1907dollar/Ounces. Focus on the long and short divide1907dollar/Ounces. Friends who want to learn more gold investment skills can add WeChat:xbh768Every morning7From midnight to early morning2Click on real-time online guidance.

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The above article is exclusively compiled by financial analyst Xu Bohong, providing more experience in investing in gold and crude oil, trading strategies, detailed information and technical explanations, reminders for position building and closing positions. Teacher Xu Bohong provides online guidance!