Peng Yuxin:5.16Risk aversion eased, US index rebounded, gold retreated50Online still bullish

Last trading day Wednesday（5month15Daily SpotgoldLondon gold continued to decline slightly. In terms of trend, gold prices have opened since the early trading of the Asian market1296.76dollar/The ounce briefly rose and then fluctuated downwards. Gold prices continued to decline in the European market, reaching intraday lows1292.86dollar/After an ounce, it rebounded and fluctuated upwards. The gold price in the US market has further surged due to bullish data such as terrorist data, reaching an intraday high1300.70dollar/After an ounce, the gold price resumed its decline and then turned around to settle at the end1296.42dollar/Ounces. In terms of impact, after Trump's optimistic comments, the market sentiment has easedstock market indexAll gains and USD conversion. The US dollar continues to rebound, with the US dollar index hitting its highest point97.71, still running on97Above the level, there is pressure on the price of gold.
　　
Looking Forward to Today Thursday(05month16day)Gold continued to perform weakly and retreat, while the US dollar continued to rebound. This trading day will focus on data such as the number of initial jobless claims, construction permits, and new home starts in the United States; And the European Central Bank（ECB）President Draghi will attend the Eurogroup meeting.
　　
In terms of data, due to the United States4The monthly retail sales rate and other factors are lower than expected, and the economic performance in the second quarter is beginning to be unfavorable, which will suppress the economic outlook. If the evening data continues to be poor, it will highlight the worsening trend of economic weakness. At the same time, the inverted curve of US Treasury yields may indicate that the market has further priced the Fed's rate cut. Gold will benefit from it. In addition, the development of the Middle East situation is likely to become the focus of the market in the coming weeks, and will also lead the trend space of gold prices.
　　
In terms of viewpoint; Analyst Zhang Yaoxi believes that; The current rebound in gold prices is still hindered by1300dollar/Below the ounce level, but still holding onto the previous breakthrough1291.50dollar/Ounce support level（50The daily moving average), currently bulls only need to maintain this support in order to maintain a short-term bullish stance. Once missed, it may cause some investors to sell multiple orders, which may lead to further testing1282dollar/Ounces in the support area of the track line.
　　
Despite the continuous decline in real interest rates and unresolved geopolitical tensions, investor interest in metals has remained sluggish in recent months. The price of gold is4The month slows down, while global exchange traded fundsETFDecline in holdings44Metric tons, this is the fourth consecutive ton3Last month, it fell. In addition, speculators were net short sellers of gold and silver for most of last month, and there is still a negative outlook for gold and silver in the market. However, in recent years, when investors arefuturesThe market sentiment turned negative, which also marked a bottoming out success in the market, followed by a strong price rebound. Given that investors' complacency seems to be once again in trouble and global economic growth continues to slow down, the upward risk of gold and silver currently seems to outweigh the downward risk.
　　
Technically; Gold prices have not stabilized at1300dollar/Above the ounce level, but continue to trade within the range, but50The midpoint support of the daily moving average is still not below or touched, indicating that the trend is still bullish on an upward rebound. At present, it seems that it is only a normal pullback, and the market is waiting to accumulate momentum.
　　
The bullish upward buying is still stabilizing1300After the top, and seeing the strong resistance level, which is the high point of last month1310.50dollar/Ounces. The next short-term downward technical breakthrough goal for bears is to drive prices below solid technical support levels5Monthly low point1265.85USD, but1275The support of the US dollar falling below is also a theoretical support that can turn bearish.
　　
At the daily level, gold prices are still operating above the Guppy Long Short Average, which is a key support focus50Daily moving average1291/1292One line of US dollars. This is also the final force to maintain this wave of rebound, as a break will turn into a pullback and continue to be bearish.
　　
Strategically; reference1292-1290Multiple entry orders, stop loss1290On the target1298-1300Nearby, empty orders can enter backhanded.

  Peng Yuxin's Message:
　　
As a qualified investor, it is important to remember that most of the time you should focus on watching and waiting patiently for the best opportunity. You should avoid frequent entry, and do not attempt to capture all the volatility in your operations. Also, do not expect to judge every segment of the market correctly. It should be rare and precise!
　　
Note: The above analysis is for reference only, and the market is constantly changing. When making an order, be sure to bring a stop loss! Investment carries risks, so be cautious when entering the industry!
　　
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