Jin Xiyan:4.19The bullish situation of gold is changing, beware of a major sell-off in the future! Gold can break next week1600Is it?

Jin Xiyan:4.19goldThe bullish situation is changing, beware of a major sell-off in the future! Gold can break next week1600Is it?


In the past week, the health incident exam has officially begun! The rampant health crisis has led to lockdowns in many countries around the world, tearing apart global supply chains. This week's ugly macro data and corporate financial reports are highlighting the deep damage to the economy, and multiple pessimistic global economic reports are casting a shadow over the outlook. In this desperate wartime state, the only hope is for health emergencies to gradually peak and economic activities to restart. There are preliminary indications that some parts of Europe and the United States with the most serious health incidents have reached the peak of health incidents, and Europe and the United States have gradually lifted the blockade. President Trump of the United States16Announced a three-stage restart. The record breaking weak data, bleak corporate financial reports, and extremely pessimistic global economic forecasts in the first half of the week dampened sentiment, and safe haven sentiment pushed gold prices to a seven-and-a-half-year high, with the US dollar briefly breaking through100However, as Trump revived its economic plan to bring hope, the stock market rebounded, the dollar and gold prices both fell, and the oil price collapsed.



　　
In the coming week, the market will release a series of heavyweight economic data, including UK employment data, UK retail sales, andCPIData, Eurozone and UK manufacturing industryPMIManufacturing industry in the United StatesPMIIn addition to daily monitoring of financial events and data such as durable goods orders in the United States, investors also need to closely monitor the progress of overseas public health and safety issues, as well as new policy developments from governments and central banks around the world.


Next week's gold trend analysis:


As mentioned before, during the current pandemic, investors all want to get a share of the world's most liquid US dollar, which means cash flow. After the US dollar falls, there will undoubtedly be a large amount of buying intervention, leading to a strong rebound of the US dollar. In addition, when gold is at a high point, investors will be cautious and willing to take profits before observing, which has led to a sell-off of gold and a decline in gold prices. As for next week, Xi Yan's personal trend is still bullish on bears


From a technical perspectiveGolden WeekKA cross star with a long upper shadow on the line has basically ended the continuous four week upward trend. dayKThe high position of the line appears to be continuously negativeKLine, andKDraw a solid bearish line,KDThe high dead cross of the indicator indicates a possibility of price decline. From a price perspective, gold prices have surged1747After reaching a high point, it falls back again1700Below, explain1700The pressure above is very strong. From a trend perspective, gold is1455The upward trend line that started this wave has already fallen below, so next week's price will draw back from the upward trend line and mainly participate in short positions when the price rises. Pressure level:1705,1725，1738Support position:1677,1658,1618





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Author: Jin Xiyan