Gold fluctuates and gathers momentum, US market thoughts and str
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This week's blockbuster U.S. economic calendar and personal consumption expenditures inflation report will be key determinants of future gold price trends. Strong economic indicators could stoke concerns about continued interest rate hikes, undermining gold's appeal. On the contrary, weak data may reinforce expectations of interest rate cuts, further boosting gold prices. The recent drop in 10-year Treasury yields below 4% has created a favorable outlook for gold as it becomes more attractive relative to interest-earning assets. In the short term, gold prices are delicately balancing dovish expectations from the Federal Reserve and upcoming economic data.
From a technical perspective, gold's daily yin and yang cycle is in a cycle, and yesterday's closing yang line was firmly above the daily moving average band. This is a good sign, indicating that last week's rise has been recognized by the market and has also provided certain support for the daily moving average channel. Although the overall structure is bullish, there is no obvious upward momentum in the short term. This is related to the impact of inactive trading caused by the current weak market fundamentals. However, gold will take this opportunity to step on and consolidate support, and the next wave of rise will be more stable.
During the day, gold will continue to focus on testing the daily moving average support below. At present, the 5-day moving average has risen to the 2027 line, and the 10/20-day moving average has also risen to the 2015-18 area. The rise of the moving average also means the rise of the structural center of gravity. As long as it does not fall back below the moving average today, the overall bullish trend will still be maintained and the market will rebound again in the future. Just wait for the fundamentals to be triggered.
In the evening, US market operations are still dominated by low long positions. If the key pressure level above is near 2040, you can also participate in short orders, and the support at the bottom 2018 remains unchanged.
Personal opinion, if you have a better opinion, you can leave me a message below, thank you
This week's blockbuster U.S. economic calendar and personal consumption expenditures inflation report will be key determinants of future gold price trends. Strong economic indicators could stoke concerns about continued interest rate hikes, undermining gold's appeal. On the contrary, weak data may reinforce expectations of interest rate cuts, further boosting gold prices. The recent drop in 10-year Treasury yields below 4% has created a favorable outlook for gold as it becomes more attractive relative to interest-earning assets. In the short term, gold prices are delicately balancing dovish expectations from the Federal Reserve and upcoming economic data.
From a technical perspective, gold's daily yin and yang cycle is in a cycle, and yesterday's closing yang line was firmly above the daily moving average band. This is a good sign, indicating that last week's rise has been recognized by the market and has also provided certain support for the daily moving average channel. Although the overall structure is bullish, there is no obvious upward momentum in the short term. This is related to the impact of inactive trading caused by the current weak market fundamentals. However, gold will take this opportunity to step on and consolidate support, and the next wave of rise will be more stable.
During the day, gold will continue to focus on testing the daily moving average support below. At present, the 5-day moving average has risen to the 2027 line, and the 10/20-day moving average has also risen to the 2015-18 area. The rise of the moving average also means the rise of the structural center of gravity. As long as it does not fall back below the moving average today, the overall bullish trend will still be maintained and the market will rebound again in the future. Just wait for the fundamentals to be triggered.
In the evening, US market operations are still dominated by low long positions. If the key pressure level above is near 2040, you can also participate in short orders, and the support at the bottom 2018 remains unchanged.
Personal opinion, if you have a better opinion, you can leave me a message below, thank you
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