Analysis of 9.11 Gold Short-term Operation Strategy
CPI is coming, gold will break today
In the early Asian session on Wednesday (September 11), spot gold fluctuated in a narrow range and is currently trading around 2517.96/ounce, maintaining overnight gains. Gold prices continued to rise on Tuesday, closing at 2516.53/ounce, up about 0.42%, rising for two consecutive trading days. U.S. Treasury yields continued to weaken, hitting a 15-month low, providing momentum for gold prices to rise; the geopolitical situation remains tense, which also attracts safe-haven buying to support gold prices.
At present, market participants are preparing for the release of U.S. inflation data to find further clues to the extent of the Fed's interest rate cut next week.
Gold is still within the range we talked about yesterday. Short-term indicators are basically flat. In the short term, there is still no significant change. It is expected that the evening CPI data will be needed to break the range. The current range has been compressed to run in the small range of 2500-2520, and the space is getting smaller and smaller. In fact, the smaller the space fluctuation, the closer the time to open the situation later.
From the 4-hour chart, the gold price is in a high-level box oscillation. I prefer a downward breakthrough in the general direction. At present, gold has reached the top of the mountain. Going long is equivalent to chasing at the top of the mountain. The profit and risk are not proportional. Focus on the support position of 2500-2498 during the day. Yesterday, the lowest retracement reached 2499, so this can be used as the dividing point for today.
Detailed intraday operation strategy:
Short gold rebounds at 2525, defend at 2533, target 2515-2500
Go long gold at 2480, defend at 2472, target 2490-2500
In the early Asian session on Wednesday (September 11), spot gold fluctuated in a narrow range and is currently trading around 2517.96/ounce, maintaining overnight gains. Gold prices continued to rise on Tuesday, closing at 2516.53/ounce, up about 0.42%, rising for two consecutive trading days. U.S. Treasury yields continued to weaken, hitting a 15-month low, providing momentum for gold prices to rise; the geopolitical situation remains tense, which also attracts safe-haven buying to support gold prices.
At present, market participants are preparing for the release of U.S. inflation data to find further clues to the extent of the Fed's interest rate cut next week.
Gold is still within the range we talked about yesterday. Short-term indicators are basically flat. In the short term, there is still no significant change. It is expected that the evening CPI data will be needed to break the range. The current range has been compressed to run in the small range of 2500-2520, and the space is getting smaller and smaller. In fact, the smaller the space fluctuation, the closer the time to open the situation later.
From the 4-hour chart, the gold price is in a high-level box oscillation. I prefer a downward breakthrough in the general direction. At present, gold has reached the top of the mountain. Going long is equivalent to chasing at the top of the mountain. The profit and risk are not proportional. Focus on the support position of 2500-2498 during the day. Yesterday, the lowest retracement reached 2499, so this can be used as the dividing point for today.
Detailed intraday operation strategy:
Short gold rebounds at 2525, defend at 2533, target 2515-2500
Go long gold at 2480, defend at 2472, target 2490-2500
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