Tao Hongda:2month21How is the trend of the gold market in the US How to deal with short sellers

European market opening, spotgoldSignificant short-term decline, with gold prices currently approaching1830dollar/The ounce level fell nearly10USD. On Tuesday, the euro zone, the United Kingdom and the United States will announce S&P's global manufacturing and service industriesPMIInitial value. GlobalPMIThe data will be closely watched to measure the situation of the world's major economies. Economic data may have a significant impact on risk sentiment, and ultimately affect the trend of the dollar and gold prices.

[Basic plane analysis]

European and American countries will also welcome on this trading day2monthPMIData, the market generally expects the data to be better than1The performance of the month may reduce market concerns about a global economic recession, which may weaken the safe haven demand for gold, posing further downside risks to the gold price in the short term. However, if European data is strong, there will be greater pressure for a short-term correction in the US dollar. If the US dollar undergoes a correction, it is expected to provide some support for gold prices. If the gold price breaks through1851.00dollar/Ounces, which will help push gold prices towards a waiting upward trend;On the other hand, once it falls below1828.70dollar/Ounces, which will stop the expected bullish trend and push gold prices back to a correction bearish trend

Technical Analysis

After experiencing a bottoming rebound last Friday, gold is currently maintaining a low level of volatility on the daily trend,4On the hourly level trend, prices begin to decline after reaching near the previous pressure band. Currently, there are signs that the short-term moving average is gradually diverging downwards. The rebound in the short-term trend may temporarily come to an end, and may continue to maintain a low level in the short-term trend of shock repair. The current range compression on the hourly level trend is very small, with signs of weakness in the short term. Operation suggestions:1847-50Near empty, stop loss1853.3, Objective1840-1835