After the opening of gold yesterday, it experienced a period of falling and then falling again. The Asian market touched the 1392 price level and rebounded. The European market touched the 1407 position. Due to the strength of the US dollar index, gold was under pressure at night and the lowest in the end. Touching the price of 1391, spit back to the intraday gains, the daily line finally closed at 1394 with a small Yinxian. Gold's overall overall trend yesterday was mainly due to the rebound correction of the non-agricultural slump last Friday. Tonight, Fed Chairman Powell delivered a speech at the stress test conference hosted by the Boston Fed through satellites and the 2019 FOMC voting committee and St. Louis Fed President Brad. The speech on the current Fed’s interest rate cuts in the market is coming tonight. It is worthy of your attention.
The specific analysis of the gold trend has been repeated yesterday. The first is the daily and four-hour big Yin line form to give a new low guidance, and the other is the structural trend of gold falling from the 1437 high point, as shown This we have already given it yesterday. Last week, the non-agricultural market gold plunge hit a low of 1386, and the 1410 line became a structurally unstoppable position. From the one-hour chart, you can see that 1386 rebounded 1407 into ABC. Structure mode. Yesterday's fall in gold fell below the C-segment and was confirmed by the high of 1407. Four hours are currently in the Yinxian line, and the K line high point keeps moving down, so yesterday we selected the trailing stop loss protection in the empty order above 1404. As long as the four-hour K-line unilateral property is not damaged, then the gold has Opportunity to break the 1386 directly to cash in the fifth wave market, if the first test position is 1380 under the 1386, the next support line is in the 1375 area. On the other hand, if today's gold rebounds and ends the technical pattern of falling from the 1407 price for four hours, then the fifth wave will have a five-stage possibility.