Wednesday Market Analysis and Signals
Technical aspect
Technical aspect: the continuous decline of gold daily line broke the adjustment range of the past two weeks. After the daily New York closing price of ten weeks MA10 daily moving average, the current MA7/10 daily moving average opened downward to suppress the 2644/2647 line, the 5-day moving average is at the 2638 line, the RSI indicator callback is close to the central axis, the four-hour moving average dead cross opened downward, the price is running in the middle and lower track of the Bollinger band, the RSI indicator is running below the central axis 50 value, and the short-term moving average suppresses 2632/36.
Gold 4 hours continues to turn downward, and there is still room for gold shorts. Gold 4 hours has shown a multiple top structure, and then fell and broke. Gold has fallen below the previous low point. The previous gold transaction concentration area above 2632 has now formed a heavy pressure area; gold rebounds to 2632 and continues to short at highs.
Sell high and buy low in the 2600~2632 range
Technical aspect: the continuous decline of gold daily line broke the adjustment range of the past two weeks. After the daily New York closing price of ten weeks MA10 daily moving average, the current MA7/10 daily moving average opened downward to suppress the 2644/2647 line, the 5-day moving average is at the 2638 line, the RSI indicator callback is close to the central axis, the four-hour moving average dead cross opened downward, the price is running in the middle and lower track of the Bollinger band, the RSI indicator is running below the central axis 50 value, and the short-term moving average suppresses 2632/36.
Gold 4 hours continues to turn downward, and there is still room for gold shorts. Gold 4 hours has shown a multiple top structure, and then fell and broke. Gold has fallen below the previous low point. The previous gold transaction concentration area above 2632 has now formed a heavy pressure area; gold rebounds to 2632 and continues to short at highs.
Sell high and buy low in the 2600~2632 range
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