The price of gold fell sharply yesterday.
1. Opening expectations in Shanghai, China ease supply chain problems in the short term
2. IMF slashes global economic forecasts
For the first point, short-term inflationary pressures are eased in principle, but the source of inflationary pressures is crude oil. The imbalance in the supply chain passively transmits this level of inflation, so I do not think this condition can trigger long-term inflation expectations, I think it is a short-term fluctuation
For the second point, which is clearly a short-term emotional issue, the key issue is not addressed at the source.
About Technical Analysis
On the technical chart, gold is in a clear downtrend. According to my fractal theory, I think that gold cannot be completely converted into a short position now. In principle, it still fluctuates in a range, and the price still fluctuates in a range.
1.After the price of gold experienced a round of decline, the price continued to fall in the structure of yesterday evening. The starting point for this structure is gold's daily high yesterday. In terms of trading strategy, if there is a structural correction in the double-entry structure of gold, the first trading situation will occur.
2.If gold does not appear the correction of the first duplex structure. Then, if there is a backtest of gold and the structural continuity is destroyed, it can also participate in the transaction. In principle, the relative profit/loss ratio of the second trading side is higher than that of the first case.
1. Opening expectations in Shanghai, China ease supply chain problems in the short term
2. IMF slashes global economic forecasts
For the first point, short-term inflationary pressures are eased in principle, but the source of inflationary pressures is crude oil. The imbalance in the supply chain passively transmits this level of inflation, so I do not think this condition can trigger long-term inflation expectations, I think it is a short-term fluctuation
For the second point, which is clearly a short-term emotional issue, the key issue is not addressed at the source.
About Technical Analysis
On the technical chart, gold is in a clear downtrend. According to my fractal theory, I think that gold cannot be completely converted into a short position now. In principle, it still fluctuates in a range, and the price still fluctuates in a range.
1.After the price of gold experienced a round of decline, the price continued to fall in the structure of yesterday evening. The starting point for this structure is gold's daily high yesterday. In terms of trading strategy, if there is a structural correction in the double-entry structure of gold, the first trading situation will occur.
2.If gold does not appear the correction of the first duplex structure. Then, if there is a backtest of gold and the structural continuity is destroyed, it can also participate in the transaction. In principle, the relative profit/loss ratio of the second trading side is higher than that of the first case.
Comment:
*hourline-1 start repairing
Comment:
no chance yesterday