Gold: bottoming out

Looking back at the performance of the gold market on the previous trading day, the closing situation can be described as mixed. It is gratifying that yesterday's market prices rebounded as we expected, with some upward movements. Although they eventually rose and fell, the three consecutive bearish downturns of the bullish cross were interrupted, indicating a pause in the decline. According to the correction and adjustment rules of this round, the daily chart should not exceed the cycle of three bearish candles at most. With the end of the three bearish candles and the closing line of yesterday's cross, the adjustment is likely to have reached an important point. However, the downside is that the daily chart is in the form of a cross star, without any physical form, indicating a stalemate between bullish and bearish forces at the current stage.

From the perspective of market trend logic, due to the significant decline and rapid pullback of gold in the past, it is difficult to achieve a return to a bull market overnight, which will inevitably be accompanied by volatile adjustments. This is like a high-speed car that needs to slow down, then turn, and finally accelerate again when turning around at a speed of 120 yards per hour. The gold market also needs time to complete this adjustment process.

The news is equally mixed on the surface. The unfavorable news is that the Dongwang tariff has officially been implemented, with a 104% tariff on major Eastern countries and other countries. This has once again had an impact on market prices, leading to a sharp drop in the market at the end of last night. Fortunately, this decline did not fall below the previous low of 2954. This indicates that the impact of tariffs on market prices is gradually weakening, and the news impact is gradually fading. Gold will eventually return to the technical trend, and its safe haven nature will also be reflected in the future. Therefore, we have no reason to be bearish on gold in the long term, as short-term shocks and downturns will not change its long-term bull market structure.

In morning trading, there are also gains and losses. In the morning session, we went long at the 2970 position as planned, which was mentioned yesterday and gave us a chance to enter the market smoothly. But the process was not smooth sailing, and we left in the first round of multiple stop loss with early entry on 2982. Fortunately, we were able to successfully make up for the multiple orders at 2970. Currently, we have not only made up for our previous losses, but also achieved a certain profit margin.

Looking ahead to the intraday trend, the intraday layout mainly focuses on three time points. The rebound and rise in the Asian market have formed a pattern, which is also an important basis for recommending everyone to go long in the morning. The European market usually performs poorly and has low operational value. Next, we need to focus on the decline after 10 pm and observe whether there will be a cyclical decline in today's market. We will further share the specific strategy in the 8pm live broadcast room.

Overall, although gold is in a period of short-term fluctuations and adjustments, it does not change the long-term bull market trend. Investors need to be patient and reasonably grasp the trading opportunities brought by short-term fluctuations.