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Gold falls to key 3317, as the Dragon Boat Festival approaches, the C wave pullback begins
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Zheng's silver point: Gold falls below the key 3317, approaching Dragon Boat Festival, and begins to pull back C wave
Review yesterday's market trend and technical points:
First, gold: Yesterday's early decline, and when the hourly line touches the middle track, after the bottoming out and pulls up K, 3338 follows bullish and successfully reaches 3350, a little far from 3360; European session is under pressure High decline, with certain support above 3322. The second suppression of the US market still holds 3322. Then, there is another bullish wave above 3333 and finally reaches 3347;
Second, crude oil: yesterday's volatility was not large, and no corresponding support was given 60.8, and resistance was 63.2;
Today's market analysis interpretation:
First, gold daily level: yesterday's retracement and stabilized 5 moving average closed at a small negative, big positive K After that, a small negative appeared, and the short-term trend was still in a relatively strong running, but the resistance line of 3500-3438 is still under pressure, so yesterday's bulls and bears were still in a certain xmserving.competition; but today, after losing the key support of 3317, the large negative pattern is at this time, and the 5 moving average is likely to break effectively, which means that the decline of the c wave has started, and the short-term bears defeat the bulls; according to weekly video analysis, the limit position of this round of c wave decline is 3200-3190, which is the weekly line again Then test the lower track position of the upward channel, continue to organize the wide range of Yin and Yang cycles, and close a yin K with a lower shadow line this week, which is the most ideal, and then close the positive next week; of course, the limit position may not be tested, take one step at a time, once the time node is in place or a good bottoming out against the big positive K, the decline of the c wave will be terminated at any time; after the ABC pullback wave is over, a new wave of trend rise will be launched and the bull market will be returned; for this time node,Return to the cycle time around the holiday. This Saturday is the Dragon Boat Festival. Before the holiday, it fluctuates and weakens. After the holiday, it will stabilize and gradually rise. This is also the way of moving together in the Qingming Festival and May Day. It depends on whether this is the case this time. It was originally estimated that it will fall on Wednesday or Thursday tomorrow, but today is considered to be ahead of schedule.
Second, the gold 4-hour level: 3317 line is the 618 division position, 3325 line is the middle track, the European session connection breaks and returns to the middle track, then this cycle will turn from oscillation to fluctuation and decline. 3317 line or close to the middle track will become an important pressure point tonight, and it will fall further when it hits highs;
Third, the golden hourly line level: This morning, the big sun was first down, and the 11 o'clock kicked out, and it stood on the middle track again. At that time, it was believed that after the bottoming out in the morning, there was still a probability of continuing in the afternoon. To test the trend resistance line of 3500-3438; but the market went through repeated washing of the market, and turned down and fell downward, and then failed to stabilize. The key support of 3317 was tested below. Some rebounds did occur for the first time, but it quickly fell back and broke through and continued to fall. The continuous negative situation was basically judged that "Black Tuesday" would appear today, with a rapid turn in the short term, ending the last week's oscillation and pulling up all the way, turning into a volatile downward situation. Then what we can do is follow the market. The Asian and European sessions are weak. The rebound will continue to look at the second decline tonight. The key resistance is 3317 at the first line of reverse pressure point, followed by the pressure resistance of 3310-08. That is, under 3317, we choose to rebound bearish as the main one, with the target support of 3272 (382 segment support), 3265 (annual moving average), 3243 (50 segment support), and 3235 early convergence triangle trend support, and look down step by step; since it is an oscillation, the process may not be very straightforward, touching each support may lead to rebound and oscillation. Just wait for the low bottom band after the Dragon Boat Festival holiday;
In terms of silver: silver weakens and suppresses simultaneously, the European session high is 33.15, the top and bottom pressure is 33.22, and the second decline is seen when it reaches the pressure, and the support target is focused on the 32.4 line;
Crude oil: From the above figure, the current operating fluctuation range is between 60 and 64, and there is a momentum of upward rebound in the short period of time, but the current position is stuck in the middle, and the participation value is not high;
The above are several points of the author's technical analysis. As a reference, it is also a summary of the technical experience accumulated by the market watching and reviewing for more than 12 hours a day in the past twelve years. Technical points are disclosed every day, and text and video interpretations are interpreted. Friends who want to learn can xmserving.compare them based on the actual trend.Reference; those who recognize ideas can refer to the operation, lead the defense well, risk control first; those who do not recognize them should just be over; thank you for your support and attention;
[The views of the article are for reference only. Investment is risky. You must be cautious when entering the market, operate rationally, set losses strictly, control positions, risk control first, and bear the profit and loss at your own risk]
Contributor: Zheng's Dianyin
A study on the market for more than 12 hours a day, persist for ten years, and detailed technical interpretations are made public on the entire network, serving the whole network with sincerity, sincerity, perseverance and wholeheartedness! xmserving.comments written on major financial websites! Proficient in the K-line rules, channel rules, time rules, moving average rules, segmentation rules, and top and bottom rules; student cooperation registration hotline - WeChat: zdf289984986
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