Breaking news, China and the United States are preparing for tariff talks, which is a major negative. Gold plunged more than $60 from $3438 in the Asian session, and should have reached the top within the day; if there is no major positive push, the Asian session high of 3438 should not be broken again, otherwise it will definitely break once it breaks through 3500, but it is unclear how far it will go above 3500. Gold started to retrace from 3438 in the Asian session. It is currently expected that the Asian session will stop falling at the support area of 3350. In the short term, it is necessary to pay attention to whether the gold weekly line will form an evening star pattern. Once the evening star structure is formed, gold will most likely confirm that it has peaked in stages, and will experience a large-scale retracement in conjunction with the weekly top divergence! However, the daily trend is relatively repeated, so we still need to focus on the impact of news on the trend!
Gold began to smash the market in the Asian market, and the speed was too fast. Now the first wave of decline of 3360 is basically in place, and the next rebound focuses on the vicinity of 3400, which is the 61.8% position of the golden section of 3438-3360. Some news in the market dominates the long and short positions, and the trend is not like usual. Continuous rise or fall, most of the time, the news dominates the rise and fall in one day. So the performance of gold price is very eye-catching! Liquidity is high enough, and it started to adjust and fall today.
There is a reason why gold fell sharply by $60 in the Asian session. Technically, the price rushed up and approached 0.809, so with the opening of the Sino-US dialogue, risk aversion will also cool down. On the disk, the price rushed up and fell in the Asian session, and the price just returned to the 5-day moving average of the 720-minute chart, so there was a rebound, but the strength of the rebound was obviously weakening. The price was suppressed when it was on the five-minute line, so if the second wave of long orders is entered, it should be on the four-hour line. As for shorting, the price is back to the inside of the channel, so the rebound cannot be too high. If it is given to 3430 again, it will form a shock, so the corresponding pressure is here at 3397 and 3405. For today's market, it is destined to be not calm, and there will be huge fluctuations up and down. The key support below is 3352, followed by 3320. The current market sentiment is complicated, and geopolitical risks and long profit-taking coexist. In the short term, we need to be vigilant about the risk of technical correction.
On the whole, today's short-term operation of gold recommends shorting mainly on rebounds, supplemented by longs on callbacks. The upper short-term focus is on the first-line resistance of 3400-3405, and the lower short-term focus is on the first-line support of 3350-3300.
Golden strategy:
Range buying: 3345-3340, SL: 3335, TP: 3365-3375
Range selling: 3400-3405, SL: 3415, TP: 3385-3375
Key points:
First support: 3345, second support: 3340, third support: 3330
First resistance: 3400, second resistance: 3405, third resistance: 3415
Gold began to smash the market in the Asian market, and the speed was too fast. Now the first wave of decline of 3360 is basically in place, and the next rebound focuses on the vicinity of 3400, which is the 61.8% position of the golden section of 3438-3360. Some news in the market dominates the long and short positions, and the trend is not like usual. Continuous rise or fall, most of the time, the news dominates the rise and fall in one day. So the performance of gold price is very eye-catching! Liquidity is high enough, and it started to adjust and fall today.
There is a reason why gold fell sharply by $60 in the Asian session. Technically, the price rushed up and approached 0.809, so with the opening of the Sino-US dialogue, risk aversion will also cool down. On the disk, the price rushed up and fell in the Asian session, and the price just returned to the 5-day moving average of the 720-minute chart, so there was a rebound, but the strength of the rebound was obviously weakening. The price was suppressed when it was on the five-minute line, so if the second wave of long orders is entered, it should be on the four-hour line. As for shorting, the price is back to the inside of the channel, so the rebound cannot be too high. If it is given to 3430 again, it will form a shock, so the corresponding pressure is here at 3397 and 3405. For today's market, it is destined to be not calm, and there will be huge fluctuations up and down. The key support below is 3352, followed by 3320. The current market sentiment is complicated, and geopolitical risks and long profit-taking coexist. In the short term, we need to be vigilant about the risk of technical correction.
On the whole, today's short-term operation of gold recommends shorting mainly on rebounds, supplemented by longs on callbacks. The upper short-term focus is on the first-line resistance of 3400-3405, and the lower short-term focus is on the first-line support of 3350-3300.
Golden strategy:
Range buying: 3345-3340, SL: 3335, TP: 3365-3375
Range selling: 3400-3405, SL: 3415, TP: 3385-3375
Key points:
First support: 3345, second support: 3340, third support: 3330
First resistance: 3400, second resistance: 3405, third resistance: 3415
Nota
News: On Wednesday morning, gold prices were under great selling pressure, and fell sharply from a two-week high of $3,435/ounce. The market rekindled optimism about the upcoming Sino-US trade negotiations, and profit-taking occurred before the release of the Fed's policy statement. Previously, gold prices had soared for two consecutive trading days. On Tuesday, spot gold prices soared nearly 3%. At 02:00 Beijing time on Thursday, the US Federal Open Market Committee (FOMC) will announce the interest rate decision; at 02:30 Beijing time on Thursday, Federal Reserve Chairman Powell will hold a monetary policy press conference.Technical: Yesterday, the escalation of the India-Pakistan conflict triggered a surge in risk aversion, and gold stabilized and climbed to around 3,438 in the second half of the night. This morning, the news that China announced that it would visit Switzerland was released, and the market's risk aversion quickly cooled down. Gold fell under pressure, and the rebound momentum continued to weaken. Gold has risen sharply in the past two days. Last week, it stopped falling and stabilized at $3,201, and then rose sharply for several days. Today, the Asian market reached a high of $3,434. Overall, the Asian session hit a high and then fell back. If the European session can stop falling and stabilize above 3397, the probability of continuing to rise in the evening is still very high. In the evening, the short-term focus is on the upper 3397 line of resistance, and if it breaks, it will look at the 3450 line; the focus is on the lower support of 3358, and if it breaks, it will look at the 3338 line of support! Personally, I suggest buying at low prices; GOLD watershed: 3397 US dollars!
Nota
Profit taking, 
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✅ Free Signals check out my Telegram group: t.me/GoldenView_analysis
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Penafian
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