Fan Chenjie:9.11Why did gold plummet? Early trading recommendations and trend analysis

    goldMessage analysis:
    Thursday(9month10day)In the European market, spot gold continued to rise, reaching its highest point1963.72dollar/Ounces, maximum pull-up over20USD;COMEXFutures up and down1970dollar/Ounces. As gold rebounded, the main reason was the sharp drop in the US dollar, with the lowest point falling to92.73. Due to the rebound of the euro, coupled with the US unemployment rate data suggesting a slowing recovery in the job market, the US dollar has experienced a sell-off. Affected by the US dollar, gold investors are currently watching. However, despite investors appearing very hesitant, the uncertainty before the US election and concerns about the US correction before the election will provide a lot of support for gold. Therefore, in terms of gold, the real yield is linked to inflation (i.e. nominal interest rate)-Inflation rate, announced by the United States this weekPPIas well asCPIThe data may have a significant impact, and if these data raise inflation expectations, the short-term increase in US Treasury yields may be bearish for gold. In the context of the Federal Reserve's loose policy increasing nominal yields, the rise in inflation will further put pressure on real interest rates. So in the medium to long term, real negative interest rates will continue to benefit gold.
    Technical analysis of gold:
    On Thursday evening, at the end of the European session and before the US session, gold fell again1945Starting a rebound trend after the first line, breaking through one after another1950and1960After the checkpoint, the price of gold was hindered by1966After the first line, there was a decline, repair, and consolidation of the upward trend, with the lowest falling to1953On the front line, there is another rebound and upward trend. In terms of indicators,MACDDouble line upward, the red kinetic energy column remains stable, but it is only running at a relatively low level, indicating that the bullish force is not strong,KDJThere has also been no significant strengthening. It can only be said that there is still some time and distance for the oscillation, and the future market may still maintain the previous high range oscillation as the main trend.
    At the daily level, the gold fell on Tuesday3Upward trend line since the beginning of the month, but hold on to it1920After the key support in the vicinity bottomed out and rebounded, its momentum continued to rebound on Wednesday, regaining the upward trend line, enhancing the expectation of gold prices returning to an overall upward trend and then turning positive. Gold Wednesday dips1920After rebounding on the front line, it continued to rise and break through continuously1934and1941Suppress the pressure and exert force to hit the non-agricultural high point in the evening1948And formed a breakthrough, but was hindered by1950Nearby, it has been oscillating below it, but it has been maintained at1941The upper part stabilizes and fluctuates. This Thursday, the Asia Europe white market continued its overnight trend and continued to1941-1950The region has experienced fluctuations and consolidation, but overall it still tends to rise again and is expected to make progress and break through and pull up.
    In summary, in the upcoming market, Chen Jiexi believes that currently, gold as a whole still maintains a high level of volatility, especially in the long term1950Upward oscillation, which is likely to continue upwards. Follow on Friday morning1965Long air competition, as long as the white plate can break through again in the early morning or tomorrow1965It is expected that there will be an accelerated upward trend, and after the upward trend, pay attention to the pressure on the trend line1975Pressure. Currently, from4From an hourly perspective, the support below is1942First line, this position is4hour5A support position for the moving average, because4When the hour fluctuates for a long time, once it breaks through the level upwards, it faces a direct pull up, so there is still a lot of space for bulls above. And the critical point of the upward passage of the steps in the hourly chart is at1950.Defend the critical point of the steps1950First, make a pullback and follow the trend to see an upward trend and reach a higher level. Tomorrow, after reaching a higher level, take the opportunity to turn around and empty the market. At present, there are more small cycle oscillations and narrow range consolidation is not lacking1945First, read more and patiently wait for the position. In terms of operation, the rebound pressure limit in trading can be effectively blocked, but it can be left empty, and the support level for falling back can stabilize more. Due to the fact that the author Chen Jie is not aware of the positions and detailed information of your hedging positions, it is difficult to provide corresponding strategies for unwinding. If you need to unwind, you can do so on your own (official WeChat account:fcj66886688)。
    Operation suggestions:
    Suggest that gold fall back to1945-42Stable on the front line, stop loss5Point, the target above looks towards55-60
    Suggest gold to rise to1960-66Frontline obstruction, stop loss5Point, target below looking towards50-45。
    Message from Chen Jie————
    The true charm of investment lies in being small and broad, and grasping a confident profit is the foundation of financial management! Technology is the foundation of survival, it is better to teach people how to fish than to teach them how to fish.
    The above content is my personal suggestion. Due to the timeliness of online publishing, it is for reference only and I bear the risk. Please indicate the source when reprinting.
    writing/Fan Chenjie