The stimulus bill determines the fate of gold, but there is not much time left for bulls!

The most brilliant radiance in life does not lie in never falling, but in the ability to rise again after falling. This state of life, which can bend and stretch, is the highest realm. Do not covet everything, do not attempt to know everything, and do not attempt to be omnipotent~

In the white market stage, the gold price has made a top range correction as scheduled. Although the intraday adjustment is in a weak state, at the time of writing, the gold price has started a short-term rise as scheduled, approaching1888I don't have high expectations for tonight's market fluctuations at the US dollar level, Because this is a stage correction market.

The current rise and fall of gold prices depend entirely on whether the economic stimulus bill can be negotiated. If the stimulus bill can receive support from both parties in Congress, then gold prices will continue to rise and may reach1920The US dollar threshold. But if the stimulus bill fails to materialize, the digestion of bearish sentiment in gold prices will drive a decline to1850The US dollar barrier.

This is what happened todaygoldThe main reason for my slight hesitation in judgment is that I don't like to do things that I'm not confident about, After all, the economic stimulus bill has been stalled for several months, and there are still doubts about whether it can be achieved this time. However, most US officials currently hope that the stimulus bill can be implemented, as the US needs this economic stimulus bill to sustain the current economy.

According to market news, the White House is also concerned about the future24-48Optimistic attitude towards achieving stimulus bill within hours. The time for the White House to make progress on the stimulus bill is getting closer and closer. There should be some information coming out of the market tonight or over the weekend regarding the economic stimulus bill. Without actual progress, it will be difficult for gold to maintain its strength next week, as it is currently on track with expectations.

In routine market trends, once the market goes against expectations, the lack of factual disclosure can lead to a contrast in market sentiment. In addition, upon seeing the announcement of the facts, the market will also begin an acceleration phase of emotions. Once this acceleration phase arrives, it will also lead to a contrast in market sentiment after reaching a turning point.

This also means that regardless of whether the stimulus bill can be implemented to boost gold bulls, the emotional contrast will drive down gold prices in the future. The biggest difference among them is just the situation and timing of the decline, but there is not much time left for gold bulls. If gold fails to rise early next week, then gold bears may dominate on Tuesday and Wednesday!

As for tonight, there will be no further explanation from the perspective of gold technology. It is expected to maintain the top range for correction, which is not enough to initiate a strong uptrend and a strong bearish downtrend. However, it is not very recommended for everyone to hold positions for the weekend tonight. There is a slight concern that news may spread over the weekend, causing gold prices to open high or low. If this behavior exists, it is advisable to make a profit by doing the right thing and place a stop loss directly at the high or low opening position.

Knowing how to avoid risks, doing one's own profit well is enough. Don't let the market's ups and downs bury your desires. Don't be too greedy, don't be too afraid, and learn to balance~ See you next week.....