Gold is about to rebound
Updated
News side:
International gold closed down sharply on Thursday (May 18), with an opening price of 11980.18/OZ, a highest price of 11985.78/OZ, a lowest price of 11951.79/OZ, and a closing price of 1955.85/oz.
News side:
The monthly rate of leading indicators of the U.S. Conference Board in April released on Thursday recorded -0.6%, in line with market expectations, and the previous value was -1.2%. The market expected 254,000, and the previous value was 264,000.
According to the commentary, following the "falsely" inflated data in the previous weeks, the number of people filing for unemployment benefits in the United States hit the largest drop since 2021. Initial claims for state unemployment benefits fell by 22,000 to 242,000 in the week ended May 13, according to data released by the Labor Department on Thursday. Continuing claims fell slightly to 1.8 million in the week ended May 6. Some economists have been wary of drawing strong conclusions from the data amid reports that fraudulent filings are behind the recent trend in jobless claims. Massachusetts accounted for nearly half of the national increase in unadjusted applications for the week ended May 6, which state officials said was largely due to fraud.
Fed official James Bullard said concerns about the impact of banking stress had been "overemphasized." He would keep an "open mind" about his next policy meeting in June, but signaled he was inclined to support another rate hike.
Focus on today:
14:00 German April PPI monthly rate
20:30 Canadian retail sales monthly rate in March
20:45 Fed Williams delivers a speech
21:00 Federal Reserve Board Governor Bowman participated in the session
23:00 Federal Reserve Chairman Powell attends the discussion
At 03:00 the next day, European Central Bank President Lagarde attends a group meeting
Gold aspect:
Gold continues to break new lows, and the daily support has been broken! There is only one result of such a trend, continue to break down! The support below is the previous support area of 1930-20! Short, the rebound in early trading relies on the pressure of 1970 to continue to short!
The trend is down, the most important thing is to follow! Although the market moves slowly, but in the right direction, profits are within reach! In just three days, gold has fallen by $70! The trending market is the profitable market, you must seize it!
Today's Asian-European gold is estimated to fluctuate and adjust first, and then continue to decline after a break! The recent market is concentrated in the U.S. market, so after the intraday rebound encounters resistance, find the right opportunity to go short and wait for the U.S. market to break out!
specific strategy
Gold 1970-1972 empty, stop loss 1978, take profit 1930.
The above suggestions are for reference only, investment is risky, and operations need to be cautious
Detailed Free Signal View My Profile Signature
International gold closed down sharply on Thursday (May 18), with an opening price of 11980.18/OZ, a highest price of 11985.78/OZ, a lowest price of 11951.79/OZ, and a closing price of 1955.85/oz.
News side:
The monthly rate of leading indicators of the U.S. Conference Board in April released on Thursday recorded -0.6%, in line with market expectations, and the previous value was -1.2%. The market expected 254,000, and the previous value was 264,000.
According to the commentary, following the "falsely" inflated data in the previous weeks, the number of people filing for unemployment benefits in the United States hit the largest drop since 2021. Initial claims for state unemployment benefits fell by 22,000 to 242,000 in the week ended May 13, according to data released by the Labor Department on Thursday. Continuing claims fell slightly to 1.8 million in the week ended May 6. Some economists have been wary of drawing strong conclusions from the data amid reports that fraudulent filings are behind the recent trend in jobless claims. Massachusetts accounted for nearly half of the national increase in unadjusted applications for the week ended May 6, which state officials said was largely due to fraud.
Fed official James Bullard said concerns about the impact of banking stress had been "overemphasized." He would keep an "open mind" about his next policy meeting in June, but signaled he was inclined to support another rate hike.
Focus on today:
14:00 German April PPI monthly rate
20:30 Canadian retail sales monthly rate in March
20:45 Fed Williams delivers a speech
21:00 Federal Reserve Board Governor Bowman participated in the session
23:00 Federal Reserve Chairman Powell attends the discussion
At 03:00 the next day, European Central Bank President Lagarde attends a group meeting
Gold aspect:
Gold continues to break new lows, and the daily support has been broken! There is only one result of such a trend, continue to break down! The support below is the previous support area of 1930-20! Short, the rebound in early trading relies on the pressure of 1970 to continue to short!
The trend is down, the most important thing is to follow! Although the market moves slowly, but in the right direction, profits are within reach! In just three days, gold has fallen by $70! The trending market is the profitable market, you must seize it!
Today's Asian-European gold is estimated to fluctuate and adjust first, and then continue to decline after a break! The recent market is concentrated in the U.S. market, so after the intraday rebound encounters resistance, find the right opportunity to go short and wait for the U.S. market to break out!
specific strategy
Gold 1970-1972 empty, stop loss 1978, take profit 1930.
The above suggestions are for reference only, investment is risky, and operations need to be cautious
Detailed Free Signal View My Profile Signature
Trade active
The market has dropped by breaking the support level after news. The price is potentially created swing level and it might go down toward 1950 support level or it may range at this support. If the price rejects the swing zone around at 1980 and downward trendline; it's good chance that price will pullback to retest main resistance. My goal is the preivous support level at 1951Trade active
Every day, real-time current price orders will be pushed to prove its strength. At present, the daily operating profit is increasing. I believe that friends who come from experience have discerning eyes. After a period of communication and experience, as well as the verification of the market, I believe that the accuracy of the list can conquer all doubts and ideasContact me for free trading signals
Trade active
Every day, real-time current price orders will be pushed to prove its strength. At present, the daily operating profit is increasing. I believe that friends who come from experience have discerning eyes. After a period of communication and experience, as well as the verification of the market, I believe that the accuracy of the list can conquer all doubts and ideasContact me for free trading signals
Trade active
Every day, real-time current price orders will be pushed to prove its strength. At present, the daily operating profit is increasing. I believe that friends who come from experience have discerning eyes. After a period of communication and experience, as well as the verification of the market, I believe that the accuracy of the list can conquer all doubts and ideasContact me for free trading signals
Trade active
Every day, real-time current price orders will be pushed to prove its strength. At present, the daily operating profit is increasing. I believe that friends who come from experience have discerning eyes. After a period of communication and experience, as well as the verification of the market, I believe that the accuracy of the list can conquer all doubts and ideasContact me for free trading signals
Trade active
Every day, real-time current price orders will be pushed to prove its strength. At present, the daily operating profit is increasing. I believe that friends who come from experience have discerning eyes. After a period of communication and experience, as well as the verification of the market, I believe that the accuracy of the list can conquer all doubts and ideasContact me for free trading signals
Trade active
Every day, real-time current price orders will be pushed to prove its strength. At present, the daily operating profit is increasing. I believe that friends who come from experience have discerning eyes. After a period of communication and experience, as well as the verification of the market, I believe that the accuracy of the list can conquer all doubts and ideasContact me for free trading signals
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