Gold violent washing, today's opportunity has arrived
On Tuesday morning (March 11th), the gold price briefly fell to around 2880 before quickly recovering. At the beginning of the European and US trading sessions, gold showed resistance to decline, with prices steadily rising, reaching a peak around 2922. Until the end of the trading session, the gold price remained in a high range, showing a sideways oscillation trend, and eventually closed with a bullish candlestick on the daily chart.
Today at 20:30, the US February CPI data will be released, and the Federal Reserve will closely monitor this CPI data to assess whether inflation continues to deviate from its mid-term target of 2%. Although inflation has fallen slightly, it is still above the target level overall, which may pose greater challenges for the Federal Reserve in monetary policy.
From a daily perspective, gold showed a bearish trend on Monday, successfully falling below the volatile range formed at the end of last week. However, on Tuesday, the trend did not continue its downward trend, but instead fell to the low point of 28080 on Monday, opening up a strong upward trend and ultimately closing positive, and this positive line directly engulfed Monday's negative line. Overall, the current short-term market still exhibits a characteristic of repeated fluctuations. Focus on the resistance level formed near last week's high point of 2930 above, and pay attention to the support level near 2880 below.
Overall, gold is expected to receive support around 2901, 2896, and 2880 today; Pay attention to the resistance near 2930, 2943, and 2956 in sequence.
Detailed operational strategy for today
Gold rebound 2930 short, defend 2937. Target 2915-2900；
Gold retracement 2880 long, defense 2872. Target 2900-2920；
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