**: Giant Elephant Gold.
Yesterday, due to the impact of the U.S. holiday, the market was slightly light during the U.S. market session. The U.S. dollar index fell again after a slight upward trend, and the overall situation was relatively balanced. The spot ** continued to rise last Friday's ** momentum, and there was a pullback adjustment after being blocked around 2023 for two consecutive times. The spot ** suffered a large single smashing and then dived quickly on the performance, and then entered the adjustment throughout the day. At present, the Fed's 1 interest rate cut expectations have been suppressed many times, which has caused repeated setbacks for gold bulls, but as the geopolitical situation shows signs of heating up again, gold prices have shown a stronger side. Overnight, less than 24 hours after the Red Sea was reported by Houthis to have attacked two U.S. ships and shot down a U.S. drone and sunk a British cargo ship. The United States and Britain also carried out airstrikes on Houthi-controlled areas. European Commission President Ursula von der Leyen announced the launch of the European Union's Red Sea escort operation.
The geopolitical situation is heating up again, so that the risk aversion of the market is rekindled. Although the US inflation data interfered with the prospect of an early rate cut by the Federal Reserve, causing ** to briefly fall below the 2000 mark, the market is still running above 2000 for now. In the face of renewed warming inflation in the US and hawkish interest rate outlook, ** has struggled to make progress. Therefore, it is important to pay attention to the changes in the situation when the geopolitical situation is heating up. In the evening of the day, the Conference Board's leading indicator for January will also be released2, and it is necessary to pay attention to the re-impact of the data on gold prices.
Yesterday, after a continuous upward trend, the bulls finally found a block around 2023, after which the bears began to retreat. From the trend point of view, the thirty-minute new ** trend type has been maintained, yesterday is a normal adjustment of the bears, because the bulls are still running above the upward trend line, it is expected that the bulls will continue to rise after the adjustment is completed. From the point of view of indicators, the MACD indicator fast and slow line Diff and DEA on the 30-minute period are running above the 0 axis, and there is currently a golden cross phenomenon, and the red kinetic energy column will begin to grow.
Yesterday, after the bulls experienced a continuous rally, the bears began to adjust, the bulls showed a weaker side, and the adjustment after the continuous upward movement continued. From the trend point of view, the bulls are still in the upward trend, after five consecutive waves of upward movement, due to the continuous shortening of the momentum, resulting in a rapid decline of the bears. From the point of view of indicators, the 1-hour MACD indicator fast and slow line Diff and DEA are about to run near the 0 axis, the green kinetic energy column is beginning to shorten, and the bearish adjustment is facing the phenomenon that it is about to end.
On the 4-hour cycle chart of the U.S. dollar index, the bears continued to fall back and adjust yesterday, and there was a continued upward trend in the morning. As the current upward trend is still maintained, the bears have temporarily stabilized after retreating. From the point of view of indicators, the MACD indicator fast and slow line is pulling back to the 0 axis, the fast and slow line diff and DEA are about to form a golden cross, the green kinetic energy column is shortening, and the bulls are coming.
*ETF – SPDR Gold Trust holdings report.
The above views and suggestions are for reference only. 】
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