Wang Mingxin: Gold bullish trend steadily progressing The turning point of the market is approaching, and the pullback remains unchanged

Hello readers, I am Wang Mingxin, be a reliable person!

　　

Any investment carries certain risks, either not doing it or making a name for it. So on the road of investment, I can't give you too much warmth. I can only help you regain confidence. I can't provide too much comfort. I can only teach you experience through operation. I can't give you too many false promises. I can only help you understand the market rules through practical experience.

　　

This week's heavyweight data outlook:

　　

Tuesday09:30The Reserve Bank of Australia announces9Monthly Monetary Policy Meeting Minutes;

　　

Thursday02:00Federal ReserveFOMCAnnounce interest rate resolutions, policy statements, and economic expectations;02:30Federal Reserve Chairman Powell Holds a Press Conference;

　　

　　11:00Bank of Japan announces interest rate resolution;

　　

　　14:30Bank of Japan Governor Toshiko Kuroda Holds a Press Conference;

　　

　　19:00The Bank of England announces interest rate decisions and meeting minutes.

　　

　　

British lawmakers have been discussing Labour's opposition to the Internal Market Act(Internal Markets bill)The amendment was voted on, which was originally intended to prevent the passage of the Internal Market Act, but the government rejected the attempt to block the bill.213Members of parliament voted in favor of amending the Internal Market Act,349Legislators voted against the amendment, and the Internal Market Act has been successfully passed. It will now enter the next legislative process.

　　

British Prime Minister Johnson(Boris Johnson)Firmly stating that some parts of the Brexit agreement must be overturned. This will jeopardize future trade agreements between the UK, the EU, and the US.

　　

Due to the Conservative Party's ownership80A majority of seats could easily make the bill a law, jeopardizing the UK Brexit agreement. However, due to the previous four prime ministers(PMs)The bill has been criticized for damaging the reputation of the UK, and there has been a rebellion within the Conservative Party, with opposition from lawmakers growing stronger.

　　

The news of Brexit still affects market nerves. The internal market bill recently proposed by British Prime Minister Johnson has been opposed by several former prime ministers, and is considered to violate some provisions of the previous exit agreement signed with the European Union. Former UK Attorney General Jeffrey Cox(Geoffrey Cox)Today, he said, "Ultimately, violating international law will cause long-term and permanent damage to a country's reputation. For me, this is also a matter of honor. We have signed, and we know what we need to sign. We simply cannot seek to eliminate the consequences of doing so."

　　

EU(EU)The Brexit talks with the UK starting this week in Brussels are likely to become tough.

　　

SpotgoldTrend analysis

　　

Due to the weakening of the US dollar and the decline in US bond yields, gold prices recorded their largest daily increase of the month. Spot gold closed higher on Monday, as shown in the daily chart,MACDDead cross, but the kinetic energy of the green pillar continues to shrink, showing signs of forming a golden cross,KDJGolden fork; The Bollinger Bands continue to close, with gold prices closing above the mid track, indicating a significant weakening of bearish sentiment in the market. There are signs of further upward movement in gold prices in the short term, and upward resistance is primarily focused on last week's high1966.54If there is a breakthrough, it will increase the short-term bullish signal and further increase resistance9month1Daily high point1992.48Once this position is breached, the gold price will once again hit2000Great level!

　　

However, since8month7Recently, the adjustment of gold prices has entered its fifth week, and after multiple ups and downs, the overall fluctuation range is still limited. Including AstraZeneca's announcement of resuming vaccine trials and Pfizer's announcement that it may10The positive news of vaccines, including the release of final stage trial data at the end of the month, helped boost risk sentiment, which may temporarily limit the upward space for gold. Technically speaking, due toMACDThe dead cross signal is still present, and the Bollinger Bands have a downward tilt in the middle track. If the gold price cannot maintain its position above the middle track, it is still necessary to be vigilant about the risk of oscillation and fall. The support below should first pay attention to it20Daily moving average1943.85The position is close to the middle track of the Bollinger Bands, and if it is missed, it will weaken the short-term bullish signal; Further support in50Daily moving average1926.36Nearby, if it breaks below this level, it is expected that the gold price will further retrace last week's low point1906.72This position is also close to the lower track of the Bollinger Belt, with relatively strong reference value. If it is missed, the gold price may directly drop below1900Gateway; Overall, in terms of being lost1900Before the checkpoint, gold was still bullish, so Wang Mingxin suggested that in terms of operational strategy, the main focus should be on a pullback and a long position, supplemented by a rebound at high altitudes; In terms of investment, operational issues can be added to the author's communication. Attitude determines everything, and details determine success or failure. The article can only provide a temporary direction and idea. As for the specific entry points and timing of resolving the situation, please follow Wang Mingxin's official WeChat account:kdj0866Will be provided in real-time.

　　

Focus on resistance above:1966.54、1976.64；

　　

Focus on support below:1943.85、1926.36；

　　

Latest operating suggestions for gold:

　　

　　1The rebound above the gold does not break1970-1972Short on the front line, stop loss4US dollars, look at the target1960-1958frontline;

　　

　　2Under the gold, it cannot be broken by stepping back1945-1947Long on the front line, stop loss4US dollars, look at the target1960-1962frontline;

　　

The article lacks too much fancy language and chicken soup. I believe that what every reader lacks is not chicken soup, but practical analysis and powerful theories.

　　

　　 Teacher Wang Mingxin's team provides comprehensive guidance in the morning6：00--In the early morning of the next day2：00 (We never stop on weekends, available for consultation at any time) Due to the timeliness of the article, the strategy is for reference only.

　　

Author of this article: Wang Mingxin（ kdj0866） Entering the market carries risks and investment needs to be cautious