Trump's words, gold fluctuates by 200 points
Previously, Trump frequently criticized Powell, saying that his interest rate cuts were not fast enough, and even studied firing Powell, causing market turbulence. But on April 22, Trump stated that he had no intention of firing Powell, but still emphasized that the Federal Reserve should lower interest rates and said that the stock market had risen well. This statement has eased market concerns about the instability of the position of Federal Reserve Chairman. Gold experienced significant fluctuations on Tuesday due to this news.
From a daily perspective, Huang will show a trend of rising and falling on Tuesday, ultimately closing with a bearish candlestick. In early trading today, gold opened lower than the 5-day moving average, demonstrating strong downward momentum and significantly weakening the short-term trend. In intraday trading, it is important to pay close attention to the continuity of the downward trend in the market.
Firstly, pay attention to the support strength near the low point 3316 formed after the early opening. If the bearish forces continue to exert force, leading to further weakness and decline in the market, then last Friday's low point of 3284, which experienced a rebound, and the current 10 day moving average support in the 3270 area. It will become a key supporting defense line in the future. In terms of operation, high-altitude is still the main focus
Detailed operational strategy for today!!!
Gold retraces to 3280 and goes long, defending 3269. Target 3300-3330
Gold rebounds 3400 short, defending 3410. Target 3380-3360
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