Bank of America crisis boosts gold safe-haven and rebound in one

The U.S. non-agricultural data on Friday, the unemployment rate, is bullish for gold, and the number of jobs is indeed bearish for gold. The market finally chooses a bullish direction. The main concern is that the liquidity risk in the U.S. banking industry will spread, so gold’s risk aversion is heating up. As of this morning, gold’s rebound is regarded as One step is in place, there is a high probability of a high and a low today. For gold operation, it is recommended to sell at 1884, risk control at 1888, and the target is 1873~1862.

Gold is bearish for several reasons:
1. The overall rebound of gold has reached the pressure zone of 50%~61.8% of the golden section. If there is pressure here, a second fall is inevitable.
2. According to my personal analysis, the three waves of wave 2 and B have already appeared. Whether the decline of wave 2 and C can occur as scheduled depends on the performance of gold today and whether 1860 can fall below. In case it stabilizes again above 1860, the bulls may still show their power.
3. The intraday pressure is 1884~1890, and the support is 1874~1860.

Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩‍💻