The US PCE makes a big debut, how should gold respond?
Updated
https://www.tradingview.com/x/c5tSB5kB/
Gold US market welcomes PCE data. Will gold continue to hit new highs or will it rise and fall as before? How should it be laid out?
If the U.S. market data for gold is bullish and it rises directly to a new high, then gold will fall back and go long and adjust its thinking. However, before reaching new highs, we can still watch gold rise and fall first. Gold rebounded in the past two days and fell back above 2330. Now it has been converted into support. If the US market falls back and no longer falls below 2330, then gold can rely on it. 2330 is bullish support. If the data is negative and falls directly below 2330, then the rebound will continue to be bearish.
The market is changing rapidly. Once the market continues to be strong, don't stick to it, and don't be overly obsessed with longs and shorts. It's just a chance, and make timely adjustments according to the current market.
U.S. market operation ideas:
Gold is short at 2347, stop loss at 2355, target 2334-2330;
Gold US market welcomes PCE data. Will gold continue to hit new highs or will it rise and fall as before? How should it be laid out?
If the U.S. market data for gold is bullish and it rises directly to a new high, then gold will fall back and go long and adjust its thinking. However, before reaching new highs, we can still watch gold rise and fall first. Gold rebounded in the past two days and fell back above 2330. Now it has been converted into support. If the US market falls back and no longer falls below 2330, then gold can rely on it. 2330 is bullish support. If the data is negative and falls directly below 2330, then the rebound will continue to be bearish.
The market is changing rapidly. Once the market continues to be strong, don't stick to it, and don't be overly obsessed with longs and shorts. It's just a chance, and make timely adjustments according to the current market.
U.S. market operation ideas:
Gold is short at 2347, stop loss at 2355, target 2334-2330;
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