The bulls counterattack, can the non-farm week go up to 1900?
You understand when others don't understand, you act when others understand, you succeed when others act, and you become rich when others succeed. This is: extraordinary thinking, foresight. Smart people can understand, shrewd people can see accurately, and savvy people can see far. The voice of the wise is the direction of the fool. You must learn to give up what you should not have, otherwise you will not be able to enter the palace of wisdom. Prejudice is worse than ignorance
In the past week, the trend of gold price has basically revolved around the rebound of the bulls. The daily level performance closed positive for four days, and it even rose to 1856 at the end of Friday and then closed the line. On the weekly line, a big positive package was formed. The negative reversal pattern, which is what we reminded last week, is the long counterattack after the monthly line ends, which is exactly in line with expectations~
After the monthly line closes, the 5/10 daily moving average indicator at the monthly line level is still bullish in the mid-term. As I said, if the price of gold is above 1790, it is possible to arrange mid-line long orders, but it is a pity that the lowest retracement on Monday is only around 1804, and the mid-line long orders have not been able to complete the layout, but this week's short-term long-term profit is not small~
Although the weekly level of the 5/10 daily moving average is dead fork downward, the reversal of the Dayang K-line directly disrupts the track of the moving average indicator. Next week, the 5-day moving average will form a corner, so the weekly level is basically difficult. Now comes the suppression on the technical side. Lianyang rebounded on the same daily line. The fundamentals of gold at the beginning of next week will definitely be bullish. It is not too difficult for the technical side to be bullish above 1875. In the short term, there may not be any Larger pullback~
Next week will usher in the announcement of the super data ADP employment and non-agricultural employment population. At the beginning of the week, we continue to be basically bullish. With a population of 500,000, it is a major bearish force for gold and silver, but it is difficult to maintain the employment population above 500,000 this month. This is a potential bullish factor that stimulates gold prices to rebound before non-farm payrolls, slowing down the release of non-farm payrolls. Announcing the downward pressure on the US dollar at that time~
To sum up, whether it is before or after non-agricultural, I am personally optimistic about the performance of gold bulls. Before the data at the beginning of the week, it was bullish to the 1875-1885 area, and it is expected to hit the 190 mark within the week. The limit is the 1910-1920 area~
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
