Liu Erfei: Can gold rise after breaking 4500? Understand the fundamentals and don't let volatility frighten you!
The crude oil-related data released early this morning has created a bearish pressure on gold, and it is likely to maintain a weak oscillation rhythm during the day. From a driving logic perspective, the performance of the U.S. third-quarter GDP data has been impressive, easing concerns about an economic recession, and the focus has shifted back to inflation issues. At the same time, the probability of a Federal Reserve rate cut at the end of January has dropped to 13.3%, which has also created a phase of pressure on gold prices. Recently, yellow and white platinum palladium have continuously hit historical highs, and many people seem a bit panicked in this volatility, rushing to cut losses after chasing high prices at the slightest pullback. In fact, this is just the main force taking advantage of this sentiment to make a short move! Simply put, each round of washing is to solidify the support at the bottom. These factors have led to a normal pullback in gold prices in the short term, but the long-term trend has not changed at all.
Recently, gold prices have continuously hit historical highs, and today gold reached the key resistance level of 4500, with strong support at 4380 below. Analyzing from the trend perspective, there is likely to be phase resistance around the 4500 mark for gold prices, but the momentum accumulated after a previous 400-dollar pullback is expected to support further upward movement. The real strong resistance range will appear in the 4550 - 4600 area.
(For reference only)
Yellow fish sees near 4480-4470 going north
Target to see near 4500-4520, if it breaks through, look at 4530, 4540, 4550.
Disclaimer: The gold market analysis and trading advice provided by this account are for personal opinion reference only and do not constitute the basis for investment decisions #美联储回购协议计划 #比特币与黄金战争 #比特币流动性 #加密市场观察 #ETH走势分析
