To The Moon

Hello everyone! Today I want to share some macro analysis with you!

1.

$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2408(GCmain)$ has started the defense of 2300? After the wash-out trend of the US market on Friday, the direction of gold has been opened. Now the weak and volatile trend of gold is obvious. Three tops have been formed near 2360. Multiple pressures from above may suppress the rise of gold again. The possibility of a sharp drop in gold is very high. The support below can first focus on the competition near the D1 low point of 2320. Before the effective break, follow the trend to see the shock. After the break, the bottom may fall again to the previous low of 2309, or even the 2300 mark.

The daily level this week belongs to the consolidation and correction after the decline. The weak rebound in the first two trading days did not move much. The price encountered resistance at 2360. The rebound above the middle track was difficult to continue. In the second half of the week, the market fluctuated and fell. The pressure of the middle track was obvious. The low point gradually broke through 2325-2320. MACD water cross, and the green column continued to increase.

Gold is about to break the box and oscillate, and a large unilateral downward trend is about to start. The shock is the most uncomfortable, but it will end soon, and we will usher in spring.

The big negative line of the gold four-hour line broke through all supports, directly sinking the rebound range of this week, achieving a crushing downward trend. The upward movement of the moving average was directly reversed downward, and it was suppressed by the reduction, directly breaking through the double bottom.

At present, the 50-day moving average continues to maintain a downward trend, and it is also an obvious double-top rhythm. It is inevitable to continue the high altitude. The daily level is still on the edge of the cliff. Prepare to reach 2270 next week; Overall, the short-term focus on the upper side is 2336-2340 resistance, and the short-term focus on the lower side is 2309-2303 support! Trading is mainly selling! (For more strategies, contact .

2.

US PCE is difficult to help gold rise, and technical bearishness is strengthened, and there is still an expectation of a correction! Looking forward to Monday this week (June 3): Gold opened under pressure first, and the US dollar index stopped falling and fluctuated narrowly at the opening, which put pressure on it.

However, its daily chart trend is below the middle track, and the short-term is bearish, which will provide some support for the gold price. In addition, the weekly chart still pays attention to the support of the middle track line. If it falls below, it will fall further, boosting the gold price to stop falling and rebound, and return to above the 10-week moving average, which will increase bullish expectations and have a negative impact on the gold price.

Daily level: Gold price is running below the middle track and many short-term moving averages such as 30 days, and the short-selling force is increasing. Although the ZZ indicator shows that it has fallen back to the bottom, and it is also close to the support of the 60-day moving average, there is a risk of rebounding at any time. However, the 4-hour trend is under pressure below the 100 and 200 period moving averages, plus the 60-period line, the three have turned dead cross downward, so the market outlook is still bearish and the probability of a decline is still large, so even if there is a rebound in the daily chart, the space is limited, and you can still pay attention to the moving average resistance for high altitude.

During the day, we will focus on the final value of the US S&P Global Manufacturing PMI in May, the US ISM Manufacturing PMI in May, and the US April Construction Spending Monthly Rate. It is expected that the economy will show a positive trend, which will boost the US dollar and be bearish for gold prices. Therefore, the probability of gold prices being bearish today is relatively high, and the operation is mainly selling orders!

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