GOLD-Tuesday Analysis

25 Haz

The geopolitical situation is still a topic of great concern in the financial market. According to various sources over the weekend, the sixth large-scale confrontation in the Middle East may break out, involving many countries, and even the Third World War may break out. The extremely unstable situation brings too many unknown possibilities to the market. Everyone should look at the changes in the future market rationally. This week, the market focus is on the US personal consumption expenditure (PCE) data expected to be released on Friday, because this is the Fed's preferred inflation indicator. Also of concern are the speeches of several Fed officials this week, including Fed Governors Cook and Bowman. On Tuesday, pay attention to two small data, the monthly rate of the US FHFA house price index in April and the US Conference Board Consumer Confidence Index in June.

From the 1H point of view, gold has a rebound demand. The previous dividing point is 2334. If gold breaks through and stands firm on the dividing point, it is likely to reach around 2350 again.

I think it is possible to buy around 2320, SL: 2314, target: 2330-2344

You can also wait for selling near 2350, SL: 2353, target: 2344-2334

The market changes very quickly, and gold may also rise directly, so you need to arrange your positions reasonably for trading. The above strategies are for your reference

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