Can gold set a new high? Let's look at the key suppression levelCan gold set a new high? Let's look at the key suppression level!
News analysis:
1: Impact of Fed policy: Bostic's hawkish remarks (expecting one rate cut) and Powell's attitude of not rushing to cut interest rates will suppress gold in the short term; but if economic data is weak (such as a decline in PMI), it may strengthen the demand for safe-haven assets.
2: Geopolitical risks: If the Russian-US-Saudi negotiations release positive signals, the cooling of risk aversion may be bearish for gold, and we need to be vigilant against the reversal of sudden risk events.
3: Key data attention: The number of initial jobless claims, GDP and PCE price index (core inflation index) announced today will affect the market's expectations for the Fed's policies, and data exceeding expectations may cause fluctuations.
Technical analysis:
4-hour level: long and short tug-of-war, oscillation range 3012-3058, the trend may accelerate after the breakthrough.
Key points:
Pressure level: 3060 (upward 3075-3080 after breaking through)
Support level: 3025, 3015, 3000 (if lost, it will open up downward space)
Operation strategy:
Day trading (buy low and sell high within the range):
Short-term opportunities:
Entry point: 3052-3055 area
Stop loss: above 3060 (to prevent passive liquidation of false breakthroughs)
Target: 3020 (lower edge of the range)
Logic: Pressure level under pressure + hawkish expectations of the Federal Reserve, technical overbought repair demand.
Multiple opportunities
Entry point: 3020-3025 area
Stop loss: below 3012 (support validity verification)
Target: 3050 (upper edge of the range)
Logic: Weak PMI supports safe-haven buying, and demand rebounds after technical corrections.
Breakthrough follow-up strategy:
Break above 3060: After the retracement is confirmed, go long with a light position, target 3075-3080.
Break below 3025: Go short after the rebound is blocked, target 3015-3000--2980.
