In the past two days, gold has failed to continue the bullish trend and is in a state of range oscillation adjustment. From the daily chart, the stochastic indicator of the daily K fluctuates and rises, and the MA5-MA10 golden cross runs upward, indicating that the golden cross is bullish. At present, KDJ is in a sticky state.
From the 4-hour chart, gold is consolidating in the 2440-2400 range. The stochastic indicator shows a volatile trend, MA5-MA10 dead cross, and MACD fast and slow line dead cross continues to show green energy columns. The K-line pattern shows a bottoming out and rebound, and the anti-fall support position is near 2410, and it is sideways and anti-fall. In terms of operation, choose to step back to near 2410 to go long. It is expected that gold will continue to rise in the short term, but it is necessary to prevent a fall after a high.
On the 1-hour chart, gold is trapped in a wedge consolidation, and the support below needs to pay attention to the vicinity of 2407. Radicals can go long directly at the overnight low of 2410. The bull support area is between 2406-2410. We need to focus on the 2400-2406 area as the bull lifeline. Short-term long orders can be arranged above this area, but if it breaks below 2400 at any time, it will be beneficial for the bears to test lower points.
From the 4-hour chart, gold is consolidating in the 2440-2400 range. The stochastic indicator shows a volatile trend, MA5-MA10 dead cross, and MACD fast and slow line dead cross continues to show green energy columns. The K-line pattern shows a bottoming out and rebound, and the anti-fall support position is near 2410, and it is sideways and anti-fall. In terms of operation, choose to step back to near 2410 to go long. It is expected that gold will continue to rise in the short term, but it is necessary to prevent a fall after a high.
On the 1-hour chart, gold is trapped in a wedge consolidation, and the support below needs to pay attention to the vicinity of 2407. Radicals can go long directly at the overnight low of 2410. The bull support area is between 2406-2410. We need to focus on the 2400-2406 area as the bull lifeline. Short-term long orders can be arranged above this area, but if it breaks below 2400 at any time, it will be beneficial for the bears to test lower points.
Comment:
The Fed minutes mentioned that participants generally believed that the risks to achieving employment and inflation goals have become better balanced over the past year. They remain highly concerned about inflation risks and note the uncertainties associated with the economic outlook. Although monetary policy is considered restrictive, many participants commented on their uncertainty about the extent of the restrictions. They believe that this uncertainty comes from the possibility that the impact of high interest rates may be smaller than in the past, the long-term equilibrium interest rate may be higher than previously thought, or the potential output level may be lower than estimated. However, they assessed that monetary policy is still well able to respond to changing economic conditions and outlook risks.
