9.10 Gold short-term operation strategy
When will the range oscillation stop? Gold is still expected to fall back
At the beginning of the Asian session on Tuesday (September 10), spot gold fluctuated in a narrow range and is currently trading around $2506.22 per ounce. Gold prices rebounded slightly on Monday, rising above the 2500 mark and closing at 2506, with a small positive on the daily line. The rebound of US Treasury yields was blocked and hovered around the 15 lows, providing gold prices with a rebound opportunity, but the rebound of the US dollar index limited the rise in gold prices. Investors are waiting for the US inflation report to provide further clues to the possible scale of the Fed's interest rate cut.
The recent trend of gold is quite subtle. From mid-August to now, for almost a month, the price has been maintained in the large range of 2470-2530. It fell when it touched the top and rebounded when it touched the bottom. The range has never been broken. Last Friday's non-agricultural data only rebounded slightly and fell around 2530. The focus of this week is the CPI data on Wednesday, which is an important factor that may break the deadlock in the range. Therefore, the CPI data at the beginning of this week currently maintains the idea of range oscillation.
In the current volatile market, although there was a slight rebound yesterday, the rebound strength is limited. The focus of the day is the double top pressure level 2515 formed in the short term of the daily line. Today's short orders will be participated in this position, and the second is around 2530. When it reaches this position, it will be bold to participate. Focus on the support of 2480 below. If the pressure level of 2530 above has not been broken this week, the market may turn downward.
Tuesday Risk Warning
☆ Today, OPEC will release the monthly crude oil market report;
☆ At 14:00, Germany will release the final value of the August CPI monthly rate;
☆ At 14:00, the UK will release the three-month ILO unemployment rate in July, the unemployment rate in August and the number of unemployment benefit applicants in August;
☆ At 18:00, the United States will release the August NFIB Small Business Confidence Index;
☆ At 0:00 the next day, EIA will release the monthly short-term energy outlook report;
☆ At 4:30 the next day, the United States will release the API crude oil inventory for the week ending September 6.
Detailed intraday operation strategy:
Gold 2515SL, defense 2523, target 2500-2490
Gold 2480BY, defense 2472, target 2490-2500
At the beginning of the Asian session on Tuesday (September 10), spot gold fluctuated in a narrow range and is currently trading around $2506.22 per ounce. Gold prices rebounded slightly on Monday, rising above the 2500 mark and closing at 2506, with a small positive on the daily line. The rebound of US Treasury yields was blocked and hovered around the 15 lows, providing gold prices with a rebound opportunity, but the rebound of the US dollar index limited the rise in gold prices. Investors are waiting for the US inflation report to provide further clues to the possible scale of the Fed's interest rate cut.
The recent trend of gold is quite subtle. From mid-August to now, for almost a month, the price has been maintained in the large range of 2470-2530. It fell when it touched the top and rebounded when it touched the bottom. The range has never been broken. Last Friday's non-agricultural data only rebounded slightly and fell around 2530. The focus of this week is the CPI data on Wednesday, which is an important factor that may break the deadlock in the range. Therefore, the CPI data at the beginning of this week currently maintains the idea of range oscillation.
In the current volatile market, although there was a slight rebound yesterday, the rebound strength is limited. The focus of the day is the double top pressure level 2515 formed in the short term of the daily line. Today's short orders will be participated in this position, and the second is around 2530. When it reaches this position, it will be bold to participate. Focus on the support of 2480 below. If the pressure level of 2530 above has not been broken this week, the market may turn downward.
Tuesday Risk Warning
☆ Today, OPEC will release the monthly crude oil market report;
☆ At 14:00, Germany will release the final value of the August CPI monthly rate;
☆ At 14:00, the UK will release the three-month ILO unemployment rate in July, the unemployment rate in August and the number of unemployment benefit applicants in August;
☆ At 18:00, the United States will release the August NFIB Small Business Confidence Index;
☆ At 0:00 the next day, EIA will release the monthly short-term energy outlook report;
☆ At 4:30 the next day, the United States will release the API crude oil inventory for the week ending September 6.
Detailed intraday operation strategy:
Gold 2515SL, defense 2523, target 2500-2490
Gold 2480BY, defense 2472, target 2490-2500
Commentaire
The market has been very volatile recently, with both opportunities and risks. Control the risks first, then make a profit. If you are currently losing money, or your account is locked, or you are a novice trader, you can contact me. No matter what problems you encounter, no matter how much money you have,Commentaire
Gold is currently in a high-level fluctuation range. Brothers can do short-term operations.
If you want to get accurate market entry signals, please private message me
Senior gold analyst who has been engaged in gold, US dollar, and oil trading for 12 years. Join me and I will lead my team to help you become a professional trader and expand your assets.
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