Gold short-term operation analysis suggestions
Gold fluctuated and rose under the speech of Fed Chairman Powell, rising from 2504 all the way to 2516, an increase of 12 points, and then consolidated and tested back and forth, but failed to reach the resistance point of 2520.
Powell made it very clear in his statement that inflation is falling. In addition, the Fed believes that inflation will continue to fall and employment has not been adversely affected. Powell wanted the market to know that the Fed was not behind the curve. By clarifying the possibility of a rate cut in September, Powell is actually cutting interest rates a month in advance. The timing of the first cut is clear, and the magnitude is still in suspense. I don't think the Fed will suddenly cut interest rates by 50 basis points. Slow and steady is the way the Fed hopes to implement easing policies in the early stages.
Resistance level 2520 2530 2550
Support level 2505 2500 2490
Powell made it very clear in his statement that inflation is falling. In addition, the Fed believes that inflation will continue to fall and employment has not been adversely affected. Powell wanted the market to know that the Fed was not behind the curve. By clarifying the possibility of a rate cut in September, Powell is actually cutting interest rates a month in advance. The timing of the first cut is clear, and the magnitude is still in suspense. I don't think the Fed will suddenly cut interest rates by 50 basis points. Slow and steady is the way the Fed hopes to implement easing policies in the early stages.
Resistance level 2520 2530 2550
Support level 2505 2500 2490
Komentar
As a gold analyst with a career of 9 years, if traders have any questions or do not understand the trend of gold, or if your current orders have been losing money, I can help you.
Welcome everyone to my channel and join me in making profits in the gold market.
Komentar
As a gold analyst with a career of 9 years, if traders have any questions or do not understand the trend of gold, or if your current orders have been losing money, I can help you.
Welcome everyone to my channel and join me in making profits in the gold market.
Komentar
Bullish momentum is weak. For short-term operations, the profit target can be appropriately lowered.
The market is consolidating. Both trends are not strong.
Profits within 3 to 5 points are enough.
Senior gold analyst who has been engaged in gold, US dollar, and oil trading for 12 years. Join me and I will lead my team to help you become a professional trader and expand your assets.
t.me/divedgold123
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