To The Moon

Hello everyone! Today i want to share some macro analysis!!

1.

$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2408(GCmain)$

Last trading day, Thursday (May 30): International gold/London gold rebounded and closed higher in a bottoming-out manner.

There is a certain expectation of stopping the decline in the short term, but the weekly and monthly charts still suggest that there will be a large correction and space.

Pay attention to today's closing situation. In terms of specific trends, the gold price opened at $2337.91/ounce in the Asian market, and first went down, recording an intraday low of $2322.62 at 13:30 in the afternoon, and then bottomed out and rebounded, maintaining a volatile upward development, continuing to the intraday high of $2351.68 at 22:00 in the US market, and finally encountered resistance and retreated, closing at $2342.92, with a daily amplitude of $29.06, closing up $5.01, an increase of 0.21%. In terms of influence, the Asian session trend first continued the downward pressure on Wednesday, performing downward and recording the intraday low, but the US dollar index and US Treasury yields encountered resistance and fell back, and finally closed down, which provided support for its gold price.

At the same time, the number of initial jobless claims in the United States (10,000) increased more than expected, which was good for gold prices, and the US GDP growth rate in the first quarter hit a one-year low, which boosted the continuous strength of gold prices and recorded the intraday high.

Finally, it encountered technical resistance and retreated and closed.

2.

Today is the last trading day of May, and the annual rate of the US core PCE price index for April will be announced! It is expected that XAUUSD will have a large fluctuation space, and you need to pay attention to risk control!

3.

Looking forward to today, Friday (May 31): Gold opened with a stable fluctuation due to yesterday's rebound. The US dollar index fell back below the middle track, which provided support for its gold price. In addition, the weekly chart trend has not yet broken through the 10-week moving average resistance, and the short-term trend is still under pressure, which limits the bullish power of gold prices, but it has not fallen below the middle track support, which will also limit the bearish power of gold prices.

Therefore, the intraday trend will be dominated by shock fluctuations for the time being, and wait for the US dollar index to break, and then follow up. The focus of the day will be on the annual and monthly rates of the US core PCE price index in April, the monthly rate of personal spending in April in the United States, and the Chicago PMI in May in the United States. The market expects that it will be favorable for gold prices. According to the data released yesterday, the published value is likely to meet expectations.

Therefore, today's gold price tends to rebound or fluctuate. Daily level: Although the gold price has bottomed out and rebounded, and the ZZ indicator shows a low signal, and it is also close to the 60-day moving average support position, which suggests that the space below is limited, and it will turn to low-multiple bullish in the short term, but the trend is still running below the middle track and other resistances. The weekly and monthly charts also suggest that the rebound space will also be limited. Therefore, intraday operations are mainly based on shock fluctuations, and specific transactions are made after the actual reaction after the data is released.

Yesterday, the Asian market weakened to a low of 2322, and the European market repaired the shock and then rushed up. After the release of the US market data, it continued to rise, reaching a high of 2351.8. Today, Friday is also the closing of the monthly line. The market may go to extremes, so be sure to guard against the black crane.

The general trend is still biased towards a decline, but it is necessary to prevent a rebound! Today's defensive resistance focuses on 2352-2355, and the support below focuses on 2338 and 2326. If it is not broken, the mid-line short view continues to a new low, and the transaction is mainly sell orders!

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