The Downside Correction Of Gold Price Maybe Just beginning，Where Will Gold Be Heading?

Near the end of the year, the market lacked special events, and the drama of hyping the starting time of the Federal Reserve's interest rate cut last year was staged again.

Anyway, the Federal Reserve will cut interest rates one day. The difference is only a matter of time. If the market news lacks bright spots, it will always be hyped. Therefore, it is not a big problem for anyone to speak and analyze. Anyway, it is just a guess. Just follow it. Technical analysis will be more useful in the recent market.

The rotation effect of US stock index is still effective

I remember that the previous post mentioned to you that when the US stock index enters the upward trend, the relationship between different indexes usually rotates, and the weak indexes in the early stage always have a moment to make up for the increase and accelerate,

So the indexes that are not very conspicuous at ordinary times will perform. The Dow and Russell 2000 Index, which were relatively weak a while ago last week, performed the strongest, especially the Russell 2000 index of small and medium-sized stocks in the United States, which is still in the range, and the stop loss position will be clearer than other indexes, so we might as well pay more attention to broaden the investment scope.

As for the overall situation of the US stock market, the biggest risk point in August-October has passed, and the next node is January-February next year, so just follow the market. Let's see if there is an inflection point in February (perhaps during the Chinese New Year).

Gold breakthrough is effective and long-term trend follows up

Last week's post reminded everyone that the gold price has effectively broken through,Results It is not difficult for gold prices to rise sharply last week and reach a record high. The specific measurement increase was mentioned in the live broadcast class last week. Based on the current main contract COMEX February contract, the increase of gold prices is estimated to be around 2250.

Of course, the trend process is not achieved overnight, and there will be a callback trend of stepping back on the neckline at some point on the way. How to deal with this kind of trend, just look at the content of the live class, which is not complicated, just as an opportunity for callback intervention. Because there is really no negative factor for the current gold price, and even the Federal Reserve turns to "dovish", the gold price will continue to perform，so the long-term trend has just begun.

In short-term technology, the stop-loss line is tracked by the 20-day moving average, and if it is not broken, our bulls can continue to stick to it. The short-term pressure position is estimated to be around 2150-2170, because the high point of the February contract is near this position, which is prone to short-term rise and break, which will be affected by the news and lead to a big pullback/retracement (step back on the neck line position at the head, shoulder and bottom of the neck line).

As for the news, the news that there may be "peace talks" in the Russian-Ukrainian conflict recently comes out. If it comes true, it will have a little impact on the short-term long-term sentiment of gold, and may become the fuse of gold price correction. However, since there is still no complete ceasefire between Palestine and Israel, it has little impact on the overall trend of gold price.

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