Yesterday, during the morning Asian session, the bulls launched an attack on the all-time high, and a wave of bulls quickly rose from around $2,072 to $2,144 in less than an hour. After that, the whole day entered a pullback, and the army of bears fell directly out of the V-shaped reversal pattern, and the gold price reached an astonishing $120. The sharp rush and fierceness of the spot ** made the market's long and short sentiment reversed, and the long and short suffered a double kill situation. As the market has recently been affected by the Fed's 1 interest rate cut expectations, the bulls are favored by the market, but after a rapid decline from yesterday's high, the market will once again enter a cautious period.
Since the beginning of this week, the market will enter the non-agricultural week, but the game of long and short in the market has been very intense. From Friday to yesterday, the gold price suddenly rose sharply, which was greatly affected by sentiment, and the dollar index did not show a continued sharp decline, on the contrary, the dollar index began to turn from weak to strong yesterday, and the strength of the dollar index also suppressed gold prices to a certain extent. This evening, the U.S. November ISM non-manufacturing PMI data 2, U.S. economic data may have another impact on the dollar index, and the spot ** that has fallen from a high level should also be watched out for another suppression. In addition, after experiencing rapid suppression, the market bullish sentiment is also prone to reversal, and it is necessary to pay attention to it during the day.
Yesterday, after a sharp breakthrough in the morning, the bears fell back and failed to form a three-buy continued high pull-up, followed by a relatively rare V reverse trend, and the disk appeared to rise sharply. From the trend point of view, yesterday the market showed sentiment in the market, although the upward trend is in a benign trend, but the emergence of the V reverse trend, so that the long and short sentiment has changed, the pressure above the short term has become larger, long and short will continue to be sorted out above 2000. From the point of view of indicators, the MACD indicator fast and slow line Diff and DEA on the 30-minute period quickly fell below the 0 axis, and is currently in the retracement, the red kinetic energy column is still growing, and it is ** after the overfall.
Yesterday, after the rapid rise of the bulls in the morning, the bears began to fall back and consolidate, and then fell sharply below the support level, and the bears showed a wave of big reversal. Judging from the trend, after the previous bulls continued to **, the continuous divergence failed to fall sharply, but yesterday there was a rapid upward trend in the morning, and then the bears fell sharply, and the bullish conversion is underway. From the point of view of indicators, the 1-hour MACD indicator fast and slow line diff and DEA are running below the 0 axis, and there is a phenomenon of imminent golden cross after experiencing continuous **, and the green kinetic energy column is continuously shortening.
On the U.S. dollar index 4-hour chart, the bears failed to extend after a brief downside yesterday, after which the bulls began to continue to rise and break through the previous high. From the trend point of view, ** after entering the back relaxation, the bulls began to diverge in strength, and the bulls are gradually turning stronger, pay attention to the turning point of the trend in the expansion of the back relaxation.
*ETF – SPDR Gold Trust Holdings Report.
The above views and suggestions are for reference only. 】
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