crashtrilogyswitch| Zhang Jinlei: The Federal Reserve expects bearish gold rebound and is directly bearish

editor editor
45
2024-05-01
On May 1, gold took a sharp fall yesterday. After a small rebound, gold began to wobble and fell all the way below the support. It fell...

On May 1, gold took a sharp fall yesterday. After a small rebound, gold began to wobble and fell all the way below the support. It fell below the 2300 mark in the US market, hit the first line of US $2284 at night, and finally closed at US $2285. The daily line closed at a big Yin line.

crashtrilogyswitch| Zhang Jinlei: The Federal Reserve expects bearish gold rebound and is directly bearish

Wednesday (May 1) as a result of the Fed's decision on Wednesday, market expectations are likely to be hawkish, with rising yields on the dollar and Treasuries putting pressure on gold prices, despite the strengthCrashtrilogyswitchThe price of gold rose for the third month in a row as a result of safe haven demand and central bank buying. Once the evening news announced a delay in interest rate cuts, then gold still has a lot of downside.

It can be said that as US data show rising employment costs, indicating persistent inflationary pressures, the Fed needs to be patient when cutting interest rates. In addition, Israel is preparing to send a delegation to Cairo to participate in the Gaza cease-fire negotiations, which weakens the safe haven buying of gold and dealt a blow to the gold price.

From a technical point of view, gold showed a negative decline pattern yesterday, and there was a temporary decline around 2310 and 2300 in intraday trading, but it did not last long, failed to bring rebound momentum, and eventually lost again. This state shows that bulls are panicking and selling ahead of schedule in the face of Fed interest rate decisions. Under the influence of this mood, it is very difficult for gold to have a reasonable rebound today. It may even be driven by the spread of emotion and continue to fall into the negative, and adjust the negative events in advance.

In short, the upper 2300 of the day may become a key pressure in Asia and Europe, and if the intraday Yin fall spreads, it may fall back to 2280-70 to find support, which is also the main support area of the pullback that has been expected. As for the Fed interest rate decision in the early morning, if bullish gold chooses to stop falling in the 2280-70 area, the top can only rebound to 2300, 2320-30, while if it is bearish gold, it will withdraw 2250-30 area below. The specific situation will be subject to the Fed interest rate decision before making the relevant adjustment.

Therefore, it is suggested to operate within the day:

Gold: 2288-2290 short, stop 2300, target 2260-2250-2240.

Today's focus on financial data and events: Wednesday, 01 May 2024

20:15 US April ADP payrolls

21:45 final value of Standard & Poor's Global Manufacturing PMI in April

22:00 US April ISM Manufacturing PMI

22:00 JOLTs vacancy in March, USA

22:00 monthly rate of construction expenditure in the United States in March

The Federal Reserve announced its interest rate decision at 02:00 the next day.

At 02:30 the next day, Federal Reserve Chairman Powell held a press conference.

Others RELEVANT MATERIAL
bingomultiplayer| Intervention in the foreign exchange market for the second time this week? Bank of Japan accounts suggest authorities are using 3.5 trillion yen to support local currency

bingomultiplayer| Intervention in the foreign exchange market for the second time this week? Bank of Japan accounts suggest authorities are using 3.5 trillion yen to support local currency

editor editor
66
2024-05-03
智通财经获悉,根据对日本央行账户的分析,日本可能在本周进行了第二次汇率干预,这是其加强支撑日元战斗的又一迹象。日本央行周四报告称,由于财政因素,其经常账户可能会在周二的下一个工作日减少4.36万亿日元(合281亿美元),这比货币经纪人预测的8330亿日元的平均下跌幅度要......
crashbandicootnsanetrilogyps5| Zuming Shares (003030.SZ): A total of 1.125 million shares of the company have been repurchased

crashbandicootnsanetrilogyps5| Zuming Shares (003030.SZ): A total of 1.125 million shares of the company have been repurchased

editor editor
51
2024-05-06
格隆汇5月5日丨祖名股份(003030crashbandicootnsanetrilogyps5.SZ)发布公告crashbandicootnsanetrilogyps5,截至2024年4月30日crashbandicootnsanetrilogyps5,公司以集中竞价......
bonuspokerdeluxestrategy| Starting from the "top stream" to ensure that the sales of renewed products will be stopped, and then discussing the breakthroughs and challenges of millions of medical insurance

bonuspokerdeluxestrategy| Starting from the "top stream" to ensure that the sales of renewed products will be stopped, and then discussing the breakthroughs and challenges of millions of medical insurance

editor editor
41
2024-05-07
SourceBonuspokerdeluxestrategyA Wisdom guaranteeAs the first domestic six-year guarantee to renew one million medical insurance.Bonusp......
pokerdrinkinggame| Ways to track the layout of institutional investors: How to track the layout of institutional investors

pokerdrinkinggame| Ways to track the layout of institutional investors: How to track the layout of institutional investors

editor editor
42
2024-05-10
In the financial market, institutional investors are a stock that cannot be ignored.PokerdrinkinggameThe strength of their behavior is......
topupcomingcryptogames| Summary of the 2023 Annual Report of the Non-Bank Financial Industry and the 2024 First Quarterly Report: Stabilization and Recovery after the Diversion of Asset and Liability

topupcomingcryptogames| Summary of the 2023 Annual Report of the Non-Bank Financial Industry and the 2024 First Quarterly Report: Stabilization and Recovery after the Diversion of Asset and Liability

editor editor
43
2024-05-11
Viewpoints and conclusions: for the financial enterprise cycle, debt expansion but asset contraction in 2023 is undoubtedly a stressful......
crashn| Gaolan Shares (300499.SZ): In the future, we will make every effort to enter new energy storage tracks such as electrochemical energy storage, compressed air energy storage and hydrogen energy

crashn| Gaolan Shares (300499.SZ): In the future, we will make every effort to enter new energy storage tracks such as electrochemical energy storage, compressed air energy storage and hydrogen energy

editor editor
36
2024-05-11
Gelonghui May 11 丨 Gaolan Shares (300499)(300499crashn.SZ) will hold a performance briefing meeting on May 10, 2024crashn, asked,"How t......