JackBlackwell

JackBlackwell Updated 

The gold market experienced a sharp correction ahead of Friday's close. The price retreated significantly from the high of $2,431, eventually settling at $2,343 levels by the end of the trading day. This change is influenced by many factors. On the one hand, the overheating trend of the US Consumer Price Index (CPI) shows that inflationary pressure still exists,...

JackBlackwell Updated 

Gold's price action yesterday was truly astonishing, with a sharp rise followed by a rapid plunge. In yesterday's trading, gold prices hit a high of $2,431 before falling sharply to a minimum of $2,333 and closing there. On the weekly chart, a positive column with a long upper shadow line is finally formed, which is the so-called "shooting star" pattern. Although...

JackBlackwell Updated 

Looking at the gold daily line, yesterday it began to break through the resistance of 2365 at the beginning of the week and reached the important mark of 2400 today, once again proving the fact that gold has not yet reached its top; where is the top currently? There is no basis for reference yet. At present, there is also super pressure on the daily trend line...

JackBlackwell Updated 

Gold followed the pattern of big opening and closing after the U.S. market on Wednesday. After the CIP data was released, gold fell rapidly, hitting the 2319 line as low as possible. Then the market began to shift from extremely strong to weak. Judging from the trend of the 4-hour chart, this wave of adjustment of various indicators has just begun, so there is a...

JackBlackwell Updated 

From a technical analysis, gold has been seriously overbought, not only on the daily and hourly charts, but also on the weekly level. In the past month or so, gold's crazy rise has been mainly based on expectations of an interest rate cut by the Federal Reserve. The trend of gold hitting new highs has caused the entire financial market to be shrouded in the...

JackBlackwell Updated 

The current fluctuations in gold prices are mainly affected by market news, and the rise and fall depend on the intensity of the selling. whether it is the impact of risk aversion caused by war factors or the economic impact of whether the United States cuts interest rates, it is undoubtedly supporting gold. If it continues to rise, then as long as there is no...

JackBlackwell

Gold's trend was weak in early trading today. After falling to test the 2303 support level, it quickly rose strongly and directly surged to the 2353 level before coming under pressure. Today's market conditions are in line with our expectations in the weekly review. The weekly review clearly pointed out that we should look long before going short. We should not...