Friday: Gold is in a downward channel
Updated
On Thursday, U.S. ADP data came in much stronger than expected. The good data has brought new confidence to the U.S. economy and also caused a huge impact on the precious metals market. This month's NFP will be announced in the day, which will also be the highlight of today. Before the data is released, it is expected that gold will not fluctuate too much during the day, and more sideways shocks await the release of evening data. From a technical point of view, the daily line closed a small positive bar yesterday, the Bollinger Bands opened, and the KDJ indicator crosses and increases volume. At present, the general trend is upward, and the midline is rising in stages. From the 4-hour chart, the Bollinger Bands are opening, and the KDJ indicator is golden cross with heavy volume. In the hourly chart, the Bollinger Bands have begun to open, and the KDJ indicator has increased its golden cross. Yesterday, the price still mainly rebounded and corrected, with the lowest reaching the 2036 line, the third support level we gave. Today, we will focus on the upward shock. The upper pressure will focus on the 2050-2060 line, and the lower level will focus on the 2040-2030 support.
Personal suggestion: go long on callbacks; dividing line: 2040
Strategy reference: It is recommended to go long in 2030/2035
Personal suggestion: go long on callbacks; dividing line: 2040
Strategy reference: It is recommended to go long in 2030/2035
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