Hao Chengbin:9.13Interpretation of Gold Week Trends and Next Week Strategies

    Last week in the morning session of the Asian market,goldAt the beginning of the trading session, there was a slight jump in price, but then a slight decline followed, ultimately achievingVType rebound, currently reported1940dollar/Ounces. The current geopolitical situation is still unclear, and Canada and the European Central Bank continue to maintain loose policies. It is expected that the Federal Reserve will also send out dovish signals next week. Fundamentally, recently, the number of cases of COVID-19 infection in Europe has surged again, which is depressing the confidence of investors and consumers. More importantly for the European Central Bank, inflation has turned negative, posing a risk of damaging longer-term expectations of price growth and leading to an irreversible spiral decline. The European Central Bank2%The inflation rate target has not been met for seven years, casting doubt on the credibility of a radical yet unfulfilled policy.


    From a technical perspective, gold prices rebounded strongly on Thursday1966Above1970-1975It is the pressure range of the general trend rebound, where the price rebounds before it is touched and loses the daily increase, indicating that the current bearish energy is still relatively strong. After the daily line rises, it has closed at a negative line for two consecutive days, turning into a lower middle track, indicating that it is still in a volatile range and in the short term4On an hourly cycle, prices remain constant for two consecutive days1935-1940The upward trend of the nearby support oscillation did not break through the previous high on Friday, nor did it show a new low. There are not many directional signals in the short term. It is recommended to judge the trend of gold next week based on Monday's trend, and focus on a few points in the operating space. Pay attention to the upper level1955-1960Nearby pressure, followed by1958-1960Short term resistance, focus on below1930-1935Short term support, followed by1920-1925Nearby, the downward trend may touch again1900Near the checkpoint.


    The above article was written by Hao Chengbin. If reprinted, please indicate the source. The article has a lag, and due to the delayed nature of online publishing, the intraday market is volatile. Readers are advised for reference only.
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