Fundamentals:
On Monday (February 6), the price of gold maintained a range of 1881-1863, and the daily line closed with a small positive line.
Today's data
Technical aspect:
On the daily line, the gold daily line closes the small Yang line, which is currently running below the short-term line, the 5-day and 10-day moving averages are running down, the mid-term line is still running up, MACD is running down, KDJ is running down, and the indicators are bearish.
The Fed's interest rate hike is coming to an end, and inflation has continued to cool down recently. The situation in Ukraine and Russia remains unchanged, and the fundamentals are still in favor of bulls.
After the sharp drop of gold last Friday, it fell into a low-level range yesterday. The overall shock is still bearish. The upper point that needs to be trimmed has not rebounded, which is around 1900. If it can rebound to around 1900 and above, it will be a good short-selling opportunity . If there is not enough room for a rebound, then there is a lot of risk in shorting. If there is no rebound, but continue to fall to a new low, don’t go after more, this will easily lead to a rebound after bottoming out, so if you don’t fall directly first, you can be patient Wait for the intraday stabilization to do more opportunities. At the top of the daily line, focus on the pressure of the 1900 mark, and at the bottom, focus on the support of 1860 and 1830. The rebound is mainly high altitude. (Swing midline trading opportunity reminder: 1900-1920 layout empty orders, stop loss 1925, target 1880-1860-1830-1820-1800.)
Pressure: 1881-1900-1910-1920-1960
Support: 1860-1850-1830-1820-1800
Spot gold:
1.1900-1915 short, stop loss 1922, target 1880-1860-1850-1830-1820-1800
2. 1863-1862 wet storage long, stop loss 1858, target 1870-1880-1900-1910