GOLD-Pay attention to the impact of PPI data

12 thg 7

The U.S. consumer price data for June released on Thursday unexpectedly dropped, with the year-on-year increase the smallest in a year. This strengthened the view that the trend of slowing inflation is back on track and brought the Federal Reserve one step closer to cutting interest rates. At the same time, the US dollar fell sharply, and gold rose sharply in the opposite direction, rising above 2400 again. In addition, market expectations for a ceasefire agreement between Israel and Gaza have cooled, which has also provided rising momentum for gold prices. Today is the last trading day of the week. On Friday, the U.S. market will focus on the annual rate of U.S. PPI in June, the initial value of the one-year inflation rate in the U.S. in July, and the initial value of the University of Michigan Consumer Confidence Index in July.

From the technical perspective, we can see that gold has entered the overbought zone and is already above the Bollinger Band. You cannot blindly buy it now. Gold is currently suppressed by the early resistance point of 2418. Pay attention to the support of 2392-2400 below. If it breaks through 2424 today , it may reach 2450 before falling. If it falls below 2392, it may also reach 2350. You need to pay attention to the impact of PPI data today.

I think it can be sold at 2418-2422, SL: 2424, target: 2400-2392

Or wait for gold to reach around 2392-2394 to buy, SL: 2389, target 2400-2408

The above are my trading suggestions for your reference. However, the market changes very quickly. You need to learn to observe and control your positions reasonably according to your funds. This will increase the possibility of making a profit. Even if the transaction fails, you will not lose too much.

This is my analysis this morning, I hope it helps you, let’s see how the trend will be today

12 thg 7

Đóng lệnh: đạt mục tiêu

2392-2410 180pips